Debt Ceiling Reform Act

Bill: 117-hr-5415
Sponsor: full_name: Rep. Boyle, Brendan F. [D-PA-2]
Introduced: 2021-09-29
Policy area: Economics and Public Finance
Latest action: action_date: 2021-09-29
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2021-09-29
action_desc: Introduced in House
text: <p><strong>Debt Ceiling Reform Act</strong></p> <p>This bill authorizes the Secretary of the Treasury to increase the public debt limit. Under current law, the debt limit restricts the amount of funds that the Department of the Treasury may borrow to fund the federal government. </p>

tv_txt: I 117th CONGRESS 1st Session H. R. 5415 IN THE HOUSE OF REPRESENTATIVES September 29, 2021 Mr. Brendan F. Boyle of Pennsylvania (for himself, Mr. Yarmuth , Mr. Lieu , Mrs. Watson Coleman , Mr. Espaillat , Ms. Lofgren , Ms. Wild , Mr. Cohen , and Mr. Evans ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To provide the Secretary of the Treasury authority to increase the public debt limit.

1. Short title This Act may be cited as the Debt Ceiling Reform Act . 2. Secretary of Treasury authorized to increase public debt limit The dollar amount contained in section 3101(b) of title 31, United States Code, shall be treated as being equal to such greater dollar amount as the Secretary of the Treasury may periodically determine. The preceding sentence shall not apply to the extent provided in any subsequently enacted provision of law.