US Congress House Bill 3771 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on October 20 2015 - 25% progression, died in committee
Action: 2015-11-03 - Referred to the Subcommittee on the Constitution and Civil Justice.
Pending: House Subcommittee on the Constitution And Civil Justice Committee
Text: Latest bill text (Introduced) [PDF]

Terms of Credit Act This bill establishes expedited legislative procedures for spending reduction legislation, limits regulatory activity, and increases the debt limit. Eleven House committees must submit to the House Budget Committee legislation to reduce direct spending by specified amounts, and Congress must consider the legislation using expedited procedures. The bill restricts legislative activities and adjournment of the House until the spending reduction legislation and appropriations legislation is passed. Congress must vote on a balanced budget amendment to the U.S. Constitution by December 31, 2015. Regulatory Freeze for Jobs Act of 2015 Until July 1, 2017, the bill imposes a moratorium on significant regulatory actions that are likely to result in an annual cost to the economy of at least $50 million or adversely affect the economy or a sector of the economy, productivity, competition, jobs, the environment, public health or safety, small entities, or state, local, or tribal governments or communities. Midnight Rule Relief Act of 2015 Agencies may not propose or finalize certain rules during the final months of a President's term. The bill includes an exception for repealing existing regulations and permits waivers for specified regulations. The bill also increases the debt limit to $19.6 trillion. (Under current law the debt limit is suspended through March 15, 2017, and will be increased on March 16, 2017, to accommodate obligations issued during the suspension period.)

Terms of Credit Act

Rep. Bill Flores [R-TX]

Date	Chamber	Action
2015-11-03	House	Referred to the Subcommittee on the Constitution and Civil Justice.
2015-10-20	House	Referred to House Ways and Means
2015-10-20	House	Referred to House Judiciary
2015-10-20	House	Referred to House Oversight and Government Reform
2015-10-20	House	Referred to House Rules
2015-10-20	House	Referred to the Committee on Rules, and in addition to the Committees on Oversight and Government Reform, the Judiciary, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2015-10-20	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/3771/all-info
Text	https://www.congress.gov/114/bills/hr3771/BILLS-114hr3771ih.pdf