II 

113TH CONGRESS 

2D SESSION S. 2877 

To appropriately manage the debt of the United States by limiting the 

use of extraordinary measures. 

IN THE SENATE OF THE UNITED STATES 

SEPTEMBER 18, 2014 

Mr. VITTER introduced the following bill; which was read twice and referred 

to the Committee on Homeland Security and Governmental Affairs 

A BILL 

To appropriately manage the debt of the United States by 

limiting the use of extraordinary measures. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Federal Debt Manage5 ment Act of 2014’’. 

6 SEC. 2. DEBT MANAGEMENT. 

7 (a) CIVIL SERVICE RETIREMENT AND DISABILITY

8 FUND.—Section 8348 of title 5, United States Code, is 

9 amended— 

10 (1) by striking subsections (j) and (k); and 


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1 (2) in subsection (l)— 

2 (A) by striking ‘‘(l)(1) The Secretary’’ and 

3 all that follows through ‘‘(2) Whenever’’ and in4 serting ‘‘(j) Whenever’’; and 

5 (B) by striking ‘‘public debt limit’’ and in6 serting ‘‘limitation imposed by section 3101(b) 

7 of title 31’’. 

8 (b) THRIFT SAVINGS FUND.—Section 8438 of title 

9 5, United States Code, is amended— 

10 (1) by striking subsection (g); and 

11 (2) in subsection (h)— 

12 (A) by striking ‘‘(h)(1) The Secretary’’ and 

13 all that follows through ‘‘(2) Whenever’’ and in14 serting ‘‘(g) Whenever’’; and 

15 (B) by striking ‘‘public debt limit’’ and in16 serting ‘‘limitation imposed by section 3101(b) 

17 of title 31’’. 

18 (c) STABILIZATION FUND.—Section 5302(a)(1) of 

19 title 31, United States Code, is amended— 

20 (1) in the first sentence, by striking ‘‘, and for 

21 investing in obligations of the United States Govern22 ment those amounts in the fund the Secretary of the 

23 Treasury, with the approval of the President, decides 

24 are not required at the time to carry out this sec25 tion’’; and 


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1 (2) by inserting before the second sentence the 

2 following: ‘‘The Secretary of the Treasury shall in3 vest in obligations of the United States Government 

4 any amounts in the stabilization fund that the Sec5 retary, with the approval of the President, decides 

6 are not required at the time to carry out this sec7 tion.’’. 

8 (d) PROHIBITION.—The Secretary of the Treasury 

9 may not suspend the investing of amounts or the issuance 

10 of obligations for any fund or account for purposes of pre11 venting the public debt of the United States from exceed12 ing the limitation imposed by section 3101(b) of title 31, 

13 United States Code. 

14 (e) SAVINGS PROVISIONS.— 

15 (1) CIVIL SERVICE RETIREMENT AND DIS16 ABILITY FUND.—Notwithstanding the amendments 

17 made by subsection (a), paragraphs (2), (3), and (4) 

18 of subsection (j) and subsection (l)(1) of section 

19 8348 of title 5, United States Code, as in effect on 

20 the day before the date of enactment of this Act, 

21 shall apply to any debt issuance suspension period 

22 (as defined under section 8348(j)(5) of such title) 

23 that is in effect on the date of enactment of this 

24 Act. 


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1 (2) THRIFT SAVINGS FUND.—Notwithstanding 

2 the amendments made by subsection (b), paragraphs 

3 (2), (3), and (4) of subsection (g) and subsection 

4 (h)(1) of section 8438 of title 5, United States Code, 

5 as in effect on the day before the date of enactment 

6 of this Act, shall apply to any debt issuance suspen7 sion period (as defined under section 8438(g)(6) of 

8 such title) that is in effect on the date of enactment 

9 of this Act. 

10 SEC. 3. INFORMATION REGARDING DAILY TREASURY 

11 STATEMENTS. 

12 Not later than 24 hours after publishing a Daily 

13 Treasury Statement, or any successor thereto, the Sec14 retary of the Treasury shall submit to the Committee on 

15 Finance of the Senate and the Committee on Ways and 

16 Means of the House of Representatives a report that— 

17 (1) provides all cash flow and debt transaction 

18 information used in preparing the Daily Treasury 

19 Statement; and 

20 (2) includes forecasts for the cash flow and debt 

21 transactions of the Federal Government. 

Æ 


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