I 
118TH CONGRESS 
1ST SESSION H. R. 3953 
To amend chapter 31 of title 31, United States Code, to provide procedures 
for congressional disapproval of the issuance of additional debt. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 9, 2023 
Mr. BOYLE of Pennsylvania (for himself, Ms. BARRAGA´N, Ms. LEE of Cali-
fornia, Mr. DAVIS of Illinois, Ms. SCHAKOWSKY, Mr. LARSON of Con-
necticut, Ms. WILLIAMS of Georgia, Mr. CARTER of Louisiana, Ms. 
TLAIB, Mr. LANDSMAN, Ms. MCCOLLUM, Ms. LOFGREN, Mr. GOMEZ, Mr. 
DELUZIO, Mr. HIMES, Mr. FROST, Mr. SHERMAN, Ms. BROWNLEY, Mr. 
CONNOLLY, Mr. IVEY, Mr. RUPPERSBERGER, Ms. NORTON, Ms. JACKSON 
LEE, Mr. NADLER, Mr. MULLIN, Mr. KIM of New Jersey, Mrs. WATSON 
COLEMAN, Mrs. TORRES of California, Mr. COHEN, Mrs. FLETCHER, Mr. 
NORCROSS, Mr. MCGOVERN, Ms. JAYAPAL, Ms. STRICKLAND, Mr. BLU-
MENAUER, Mr. CLEAVER, Ms. OMAR, Ms. ADAMS, Ms. WEXTON, Mrs. 
FOUSHEE, Ms. CHU, Mr. CARSON, Mr. GRIJALVA, Ms. PELOSI, Mr. 
EVANS, Mr. PAYNE, Mr. GARCI´A of Illinois, and Mr. JOHNSON of Geor-
gia) introduced the following bill; which was referred to the Committee 
on Ways and Means, and in addition to the Committee on Rules, 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 com-
mittee concerned 
A BILL 
To amend chapter 31 of title 31, United States Code, to 
provide procedures for congressional disapproval of the 
issuance of additional debt. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Debt Ceiling Reform 
Act’’. 
SEC. 2. PROCEDURES FOR CONGRESSIONAL DISAPPROVAL 
OF ISSUANCE OF ADDITIONAL DEBT. 
Section 3101 of title 31, United States Code, is 
amended to read as follows: 
‘‘§ 3101. Public debt limit 
‘‘(a) DEFINITION OF JOINT RESOLUTION.—In this 
section, the term ‘joint resolution’ means a joint resolu-
tion— 
‘‘(1) that is introduced during the period— 
‘‘(A) beginning on the date on which a cer-
tification under subsection (b)(1) is received; 
and 
‘‘(B) ending on the date that is 3 calendar 
days after the date described in subparagraph 
(A) (or, if a House was not in session, the next 
calendar day on which that House is in ses-
sion); 
‘‘(2) which does not have a preamble; 
‘‘(3) the title of which is only as follows: ‘Joint 
resolution relating to the disapproval of the Sec-
retary of the Treasury’s exercise of authority to 
issue additional debt, as submitted under section 
3101 
of 
title 
31, 
United 
States 
Code, 
on 
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llllll’ (with the blank space being filled in 
with the date on which the applicable certification 
under subsection (b)(1) was received); and 
‘‘(4) the matter after the resolving clause of 
which is only as follows: ‘That Congress disapproves 
of the Secretary of the Treasury’s exercise of the au-
thority to issue additional debt, as exercised pursu-
ant to the certification under section 3101(b) of title 
31, United States Code.’. 
‘‘(b) CERTIFICATION.— 
‘‘(1) IN
GENERAL.—The Secretary of the 
Treasury shall submit to Congress a written certifi-
cation whenever the Secretary of the Treasury deter-
mines that the debt is within $100,000,000,000 of 
a $1,000,000,000,000 increment and that further 
borrowing is required to meet existing commitments. 
‘‘(2) AUTHORITY TO ISSUE DEBT AFTER CER-
TIFICATION.—Subject to the requirements of this 
section, the United States may issue additional debt 
as necessary to meet existing commitments on and 
after the date on which the Secretary of the Treas-
ury submits a written certification to Congress 
under paragraph (1). 
‘‘(3) RESOLUTION OF DISAPPROVAL.—Congress 
may consider a joint resolution relating to each cer-
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tification submitted by the Secretary of the Treasury 
under paragraph (1). 
‘‘(c) ENACTMENT
OF
JOINT
RESOLUTION.—The 
United States may not issue additional debt if, not later 
than 30 calendar days after the date on which Congress 
receives a certification submitted under subsection (b)(1) 
(regardless of whether Congress is in session), there is en-
acted into law a joint resolution disapproving the Sec-
retary of the Treasury’s exercise of authority to issue addi-
tional debt. 
‘‘(d) EXPEDITED CONSIDERATION IN THE HOUSE OF 
REPRESENTATIVES.— 
‘‘(1) RECONVENING.—Upon receipt of a certifi-
cation submitted under subsection (b)(1), the Speak-
er, if the House of Representatives would otherwise 
be adjourned, shall notify the Members of the House 
of Representatives that, pursuant to this section, the 
House of Representatives shall convene not later 
than the second calendar day after receipt of such 
certification. 
‘‘(2) REPORTING AND DISCHARGE.—Any com-
mittee of the House of Representatives to which a 
joint resolution is referred shall report it to the 
House of Representatives without amendment not 
later than 5 calendar days after the date of intro-
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duction of the joint resolution. If a committee fails 
to report the joint resolution within that period, the 
committee shall be discharged from further consider-
ation of the joint resolution and the joint resolution 
shall be referred to the appropriate calendar. 
‘‘(3) PROCEEDING TO CONSIDERATION.—After 
each committee authorized to consider a joint resolu-
tion reports it to the House of Representatives or 
has been discharged from its consideration, it shall 
be in order, not later than the sixth day after intro-
duction of the joint resolution, to move to proceed 
to consider the joint resolution in the House of Rep-
resentatives. All points of order against the motion 
are waived. Such a motion shall not be in order with 
respect to a joint resolution relating to a certifi-
cation after the House of Representatives has dis-
posed of a motion to proceed that joint resolution. 
The previous question shall be considered as ordered 
on the motion to its adoption without intervening 
motion. The motion shall not be debatable. A motion 
to reconsider the vote by which the motion is dis-
posed of shall not be in order. 
‘‘(4) CONSIDERATION.—A joint resolution shall 
be considered as read. All points of order against a 
joint resolution and against its consideration are 
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waived. An amendment to a joint resolution is not 
in order. The previous question shall be considered 
as ordered on a joint resolution to its passage with-
out intervening motion except 2 hours of debate 
equally divided and controlled by the proponent and 
an opponent. A motion to reconsider the vote on 
passage of a joint resolution shall not be in order. 
‘‘(e) EXPEDITED PROCEDURE IN THE SENATE.— 
‘‘(1) RECONVENING.—Upon receipt of a certifi-
cation under subsection (b)(1), if the Senate has ad-
journed or recessed for more than 2 days, the major-
ity leader of the Senate, after consultation with the 
minority leader of the Senate, shall notify the Mem-
bers of the Senate that, pursuant to this section, the 
Senate shall convene not later than the second cal-
endar day after receipt of such message. 
‘‘(2) PLACEMENT ON CALENDAR.—Upon intro-
duction in the Senate, a joint resolution shall be im-
mediately placed on the calendar. 
‘‘(3) FLOOR CONSIDERATION.— 
‘‘(A) IN GENERAL.—Notwithstanding rule 
XXII of the Standing Rules of the Senate, it is 
in order at any time during the period begin-
ning on the day after the date on which Con-
gress receives a certification under subsection 
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‘‘(B) the procedure in the receiving House 
shall be the same as if no joint resolution had 
been received from the other House until the 
vote on passage, when the joint resolution re-
ceived from the other House shall supplant the 
joint resolution of the receiving House. 
‘‘(2) TREATMENT
OF
JOINT
RESOLUTION
OF 
OTHER HOUSE.—If the Senate fails to introduce or 
consider a joint resolution under this section relating 
to a certification under subsection (b)(1), the joint 
resolution of the House relating to the same certifi-
cation shall be entitled to expedited floor procedures 
under this section. 
‘‘(3) TREATMENT OF COMPANION MEASURES.— 
If, following passage of a joint resolution in the Sen-
ate, the Senate receives the companion measure 
from the House of Representatives, the companion 
measure shall not be debatable. 
‘‘(4) CONSIDERATION AFTER PASSAGE.— 
‘‘(A) IN GENERAL.—If Congress passes a 
joint resolution, the period beginning on the 
date the President is presented with the joint 
resolution and ending on the date the President 
signs, allows to become law without his signa-
ture, or vetoes and returns the joint resolution 
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(but excluding days when either House is not in 
session) shall be disregarded in computing the 
calendar day period described in subsection (c). 
‘‘(B) VETO MESSAGE.—Debate on a veto 
message in the Senate under this section shall 
be 1 hour equally divided between the majority 
and minority leaders or their designees. 
‘‘(5) VETO OVERRIDE.—If, within the calendar 
day period described in subsection (c), Congress 
overrides a veto of a joint resolution relating to a 
certification submitted under subsection (b)(1), the 
United States may not issue any additional debt 
under this chapter. 
‘‘(g) RULES OF HOUSE OF REPRESENTATIVES AND 
SENATE.—This subsection and subsections (a), (d), (e), 
and (f) are enacted by Congress— 
‘‘(1) as an exercise of the rulemaking power of 
the Senate and House of Representatives, respec-
tively, and as such are deemed a part of the rules 
of each House, respectively, but applicable only with 
respect to the procedure to be followed in that 
House in the case of a joint resolution, and they su-
persede other rules only to the extent that they are 
inconsistent with such rules; and 
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‘‘(2) with full recognition of the constitutional 
right of either House to change the rules (so far as 
relating to the procedure of that House) at any time, 
in the same manner, and to the same extent as in 
the case of any other rule of that House. 
‘‘(h) DEBT DEFINED.— 
‘‘(1) IN GENERAL.—For purposes of this sec-
tion, the term ‘debt’ means the face amount of obli-
gations issued under this chapter and the face 
amount of obligations whose principal and interest 
are guaranteed by the United States Government 
(except guaranteed obligations held by the Secretary 
of the Treasury). 
‘‘(2) DETERMINATION OF FACE AMOUNT.— 
‘‘(A) IN GENERAL.—For purposes of this 
section, the current redemption value of an obli-
gation issued on a discount basis and redeem-
able before maturity at the option of its holder 
is deemed to be the face amount of the obliga-
tion. 
‘‘(B) CERTAIN OBLIGATIONS NOT REDEEM-
ABLE
BEFORE
MATURITY.—For purposes of 
this section, the face amount, for any month, of 
any obligation issued on a discount basis that 
is not redeemable before maturity at the option 
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of the holder of the obligation is an amount 
equal to the sum of— 
‘‘(i) the original issue price of the ob-
ligation, plus 
‘‘(ii) the portion of the discount on 
the obligation attributable to periods be-
fore the beginning of such month (as de-
termined under the principles of section 
1272(a) of the Internal Revenue Code of 
1986 without regard to any exceptions con-
tained in paragraph (2) of such section).’’. 
SEC. 3. REPEAL OF EXPIRED PROVISION. 
(a) REPEAL.—Section 3101A of title 31, United 
States Code, is repealed. 
(b) CLERICAL AMENDMENT.—The table of sections 
for subchapter I of chapter 31 of title 31, United States 
Code, is amended by striking the item relating to section 
3101A. 
SEC. 4. TECHNICAL AND CONFORMING AMENDMENTS. 
(a) IN GENERAL.— 
(1) Section 8348 of title 5, United States Code, 
is amended by striking subsections (j), (k), and (l). 
(2) Section 8438 of title 5, United States Code, 
is amended by striking subsections (g) and (h). 
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(3) Section 14(d)(2)(A) of the Federal Deposit 
Insurance Act (12 U.S.C. 1824(d)(2)(A)) is amend-
ed— 
(A) by striking ‘‘in section 3101(b)’’ and 
inserting ‘‘under section 3101’’; and 
(B) by striking ‘‘an obligation to which 
such limit applies’’ and inserting ‘‘debt, as de-
fined in subsection (h) of such section’’. 
(b) SAVINGS
PROVISIONS.—Notwithstanding the 
amendments made by paragraphs (1) and (2) of sub-
section (a)— 
(1) 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; and 
(2) 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 
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section 8438(g)(6) of such title) that is in effect on 
the date of enactment of this Act. 
Æ 
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