I 
117TH CONGRESS 
1ST SESSION H. R. 3305 
To repeal the debt ceiling, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 18, 2021 
Mr. FOSTER introduced the following bill; which was referred to the 
Committee on Ways and Means 
A BILL 
To repeal the debt ceiling, 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. SHORT TITLE. 
This Act may be cited as the ‘‘End the Threat of 
Default Act’’. 
SEC. 2. REPEAL OF DEBT CEILING. 
(a) IN GENERAL.—Section 3101 of title 31, United 
States Code, is repealed. 
(b) TECHNICAL AND CONFORMING AMENDMENTS.— 
(1) Section 301(b)(5) of the Congressional 
Budget Act of 1974 (2 U.S.C. 632(b)(5)) is amend-
ed by striking ‘‘debt subject to limit (in section 3101 
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of title 31 of the United States Code)’’ and inserting 
‘‘face value of obligations issued under chapter 31 of 
title 31, United States Code, and the face amount 
of obligations whose principal and interest are guar-
anteed by the United States Government (except 
guaranteed obligations held by the Secretary of the 
Treasury)’’. 
(2) Section 8348 of title 5, United States Code, 
is amended by striking subsections (j), (k), and (l). 
(3) Section 8438 of title 5, United States Code, 
is amended by striking subsections (g) and (h). 
(4) Section 14(d)(2) of the Federal Deposit In-
surance Act (12 U.S.C. 1824(d)(2)) is amended— 
(A) by striking subparagraph (A); and 
(B) by redesignating subparagraphs (B), 
(C), and (D) as subparagraphs (A), (B), and 
(C), respectively. 
(5) Section 3101A of title 31, United States 
Code, is repealed. 
(6) Section 3130(e)(2) of title 31, United 
States Code, is amended by striking ‘‘total amount 
of the obligations subject to the public debt limit es-
tablished in section 3101 of this title’’ and inserting 
‘‘face value of obligations issued under this chapter 
and the face amount of obligations whose principal 
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and interest are guaranteed by the United States 
Government (except guaranteed obligations held by 
the Secretary of the Treasury)’’. 
(7) Section 1145(b) of the Social Security Act 
(42 U.S.C. 1320b–15(b)) is amended by striking 
‘‘any obligation subject to the public debt limit es-
tablished under section 3101 of title 31, United 
States Code’’ and inserting ‘‘any obligation issued 
under chapter 31 of title 31, United States Code, 
and any obligation whose principal and interest are 
guaranteed by the United States Government (ex-
cept guaranteed obligations held by the Secretary of 
the Treasury)’’. 
(8) The table of sections for chapter 31 of title 
31, United States Code, is amended by striking the 
items relating to sections 3101 and 3101A. 
(c) SAVINGS PROVISIONS.— 
(1) CIVIL
SERVICE
RETIREMENT
AND
DIS-
ABILITY FUND.—Notwithstanding the amendments 
made by subsection (b), 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) 
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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 suspen-
sion period (as defined under section 8438(g)(6) of 
such title) that is in effect on the date of enactment 
of this Act. 
Æ 
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