Fiscal Sanity Act for the National Debt

Bill: 114-hr-1242
Sponsor: full_name: Rep. Grayson, Alan [D-FL-9]
Introduced: 2015-03-04
Policy area: Economics and Public Finance
Subjects: Budget deficits and national debt
Latest action: action_date: 2015-03-04
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2015-03-04
action_desc: Introduced in House
text: <p><b>Fiscal Sanity Act for the National Debt</b></p> <p>This bill suspends the public debt limit for the period beginning on the date of enactment of this Act and ending 240 days later. The debt limit, often referred to as the debt ceiling, is the maximum amount of debt that the Department of the Treasury can issue to the public and to other federal agencies. Under current law, the debt limit is suspended through March 15, 2015. </p>

tv_txt: I 114th CONGRESS 1st Session H. R. 1242 IN THE HOUSE OF REPRESENTATIVES March 4, 2015 Mr. Grayson introduced the following bill; which was referred to the Committee on Ways and Means A BILL Eliminating the debt ceiling for a period defined, and for other purposes.

1. Short title This Act may be cited as the Fiscal Sanity Act for the National Debt . 2. Nonapplicability of debt ceiling Section 3101(b) of title 31, United States Code, shall not apply for the period beginning on the date of the enactment of this Act and ending 240 days thereafter.