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[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 2877 Introduced in Senate (IS)]

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.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Federal Debt Management Act of 
2014''.

SEC. 2. DEBT MANAGEMENT.

    (a) Civil Service Retirement and Disability Fund.--Section 8348 of 
title 5, United States Code, is amended--
            (1) by striking subsections (j) and (k); and
            (2) in subsection (l)--
                    (A) by striking ``(l)(1) The Secretary'' and all 
                that follows through ``(2) Whenever'' and inserting 
                ``(j) Whenever''; and
                    (B) by striking ``public debt limit'' and inserting 
                ``limitation imposed by section 3101(b) of title 31''.
    (b) Thrift Savings Fund.--Section 8438 of title 5, United States 
Code, is amended--
            (1) by striking subsection (g); and
            (2) in subsection (h)--
                    (A) by striking ``(h)(1) The Secretary'' and all 
                that follows through ``(2) Whenever'' and inserting 
                ``(g) Whenever''; and
                    (B) by striking ``public debt limit'' and inserting 
                ``limitation imposed by section 3101(b) of title 31''.
    (c) Stabilization Fund.--Section 5302(a)(1) of title 31, United 
States Code, is amended--
            (1) in the first sentence, by striking ``, and for 
        investing in obligations of the United States Government those 
        amounts in the fund the Secretary of the Treasury, with the 
        approval of the President, decides are not required at the time 
        to carry out this section''; and
            (2) by inserting before the second sentence the following: 
        ``The Secretary of the Treasury shall invest in obligations of 
        the United States Government any amounts in the stabilization 
        fund that the Secretary, with the approval of the President, 
        decides are not required at the time to carry out this 
        section.''.
    (d) Prohibition.--The Secretary of the Treasury may not suspend the 
investing of amounts or the issuance of obligations for any fund or 
account for purposes of preventing the public debt of the United States 
from exceeding the limitation imposed by section 3101(b) of title 31, 
United States Code.
    (e) Savings Provisions.--
            (1) Civil service retirement and disability fund.--
        Notwithstanding the amendments made by subsection (a), 
        paragraphs (2), (3), and (4) of subsection (j) and subsection 
        (l)(1) of section 8348 of title 5, United States Code, as in 
        effect on the day before the date of enactment of this Act, 
        shall apply to any debt issuance suspension period (as defined 
        under section 8348(j)(5) of such title) that is in effect on 
        the date of enactment of this Act.
            (2) Thrift savings fund.--Notwithstanding the amendments 
        made by subsection (b), paragraphs (2), (3), and (4) of 
        subsection (g) and subsection (h)(1) of section 8438 of title 
        5, United States Code, as in effect on the day before the date 
        of enactment of this Act, shall apply to any debt issuance 
        suspension period (as defined under section 8438(g)(6) of such 
        title) that is in effect on the date of enactment of this Act.

SEC. 3. INFORMATION REGARDING DAILY TREASURY STATEMENTS.

    Not later than 24 hours after publishing a Daily Treasury 
Statement, or any successor thereto, the Secretary of the Treasury 
shall submit to the Committee on Finance of the Senate and the 
Committee on Ways and Means of the House of Representatives a report 
that--
            (1) provides all cash flow and debt transaction information 
        used in preparing the Daily Treasury Statement; and
            (2) includes forecasts for the cash flow and debt 
        transactions of the Federal Government.
                                 <all>
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