Federal Debt Management Act of 2014

To appropriately manage the debt of the United States by limiting the use of extraordinary measures. 1. Short title This Act may be cited as the Federal Debt Management Act of 2014 2. Debt management (a) Civil Service Retirement and Disability Fund Section 8348 (1) by striking subsections (j) and (k); and (2) in subsection (l)— (A) by striking (l)(1) The Secretary (2) Whenever (j) Whenever (B) by striking public debt limit limitation imposed by section 3101(b) (b) Thrift Savings Fund Section 8438 (1) by striking subsection (g); and (2) in subsection (h)— (A) by striking (h)(1) The Secretary (2) Whenever (g) Whenever (B) by striking public debt limit limitation imposed by section 3101(b) (c) Stabilization fund Section 5302(a)(1) (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 (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 (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 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.

Summary: Federal Debt Management Act of 2014 - Limits the Department of the Treasury's authority to manage the debt of the United States by using extraordinary measures to prevent the public debt limit from being exceeded. Limits the authority of the Secretary of the Treasury to suspend the investing of amounts or the issuance of obligations for the Civil Service Retirement and Disability Fund, the Thrift Savings Fund, the Exchange Stabilization Fund, or any other fund or account for the purposes of preventing the public debt of the United States from exceeding the public debt limit. Requires the Secretary to submit to Congress additional information regarding the Daily Treasury Statement, including: (1) all cash flow and debt transaction information used in preparing the Daily Treasury Statement, and (2) forecasts for the cash flow and debt transactions of the federal government.