I 
118TH CONGRESS 
1ST SESSION H. R. 4651 
To require the Secretary of the Treasury to issue a report containing informa-
tion on extraordinary measures available when the debt of the United 
States Government approaches the statutory limit, and for other pur-
poses. 
IN THE HOUSE OF REPRESENTATIVES 
JULY 14, 2023 
Mr. LOUDERMILK introduced the following bill; which was referred to the 
Committee on Ways and Means 
A BILL 
To require the Secretary of the Treasury to issue a report 
containing information on extraordinary measures avail-
able when the debt of the United States Government 
approaches the statutory limit, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. REPORT ON EXTRAORDINARY MEASURES. 
(a) IN GENERAL.—Upon the Secretary of the Treas-
ury notifying Congress that the Department of the Treas-
ury has been forced to begin using extraordinary measures 
in order to meet Federal funding obligations without 
issuing additional Treasury securities, the Secretary of the 
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Treasury shall issue a report to the voting members of 
the Financial Stability Oversight Council, the Office of Fi-
nancial Research, the Committee on Financial Services of 
the House of Representatives, and the Committee on 
Banking, Housing, and Urban Affairs of the Senate con-
taining— 
(1) a list of available extraordinary measures, 
stated as a dollar amount; 
(2) a projection of the headroom under the 
statutory limit for the debt of the United States 
Government (as defined in section 3101 of title 31, 
United States Code) afforded by each extraordinary 
measure (where ‘‘headroom under the statutory debt 
limit’’ refers to the difference between the current 
statutory debt limit and the projected operating cash 
balance of the Department of the Treasury); 
(3) a projection of the date on which— 
(A) all available headroom afforded by use 
of all available extraordinary measures will be 
exhausted; 
(B) the Department of the Treasury will 
have an operating cash balance at or below 
$50,000,000,000; 
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(C) the debt of the United States Govern-
ment will be within $50,000,000,000 of reach-
ing the statutory limit; and 
(D) the Department of the Treasury will 
be unable to make timely payments on the debt 
of the United States Government; and 
(4) an attestation by the Secretary of the 
Treasury as to whether the debt of the United 
States Government approaching the statutory limit 
is an emerging threat to the financial stability of the 
United States. 
(b) PROJECTION REQUIREMENTS.—Each projection 
required under subsection (a) shall include a point esti-
mate forecast along with an accompanying 95 percent con-
fidence interval. 
Æ 
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