Authorizes an extension of the presidential authority to modify the public debt ceiling (subject to enactment of a congressional joint resolution of disapproval).
Authorizes the Secretary of the Treasury to borrow an additional amount estimated to be sufficient to meet commitments for one year whenever the President certifies to Congress that the public debt subject to limit is within $100 billion of the $16.394 trillion limit and that further borrowing is required to meet existing commitments.
Prohibits the debt limit from being raised if, within 50 calendar days after Congress receives that certification, a joint resolution is enacted disapproving the President's exercise of authority with respect to such additional amount.
Applies current requirements for expedited consideration of the joint resolution in both houses, with certain exceptions including:
[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 233 Introduced in House (IH)]
113th CONGRESS
1st Session
H. R. 233
To amend chapter 31 of title 31, United States Code, to provide for an
orderly process by which the debt ceiling is increased.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 14, 2013
Mr. Honda 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 committee concerned
_______________________________________________________________________
A BILL
To amend chapter 31 of title 31, United States Code, to provide for an
orderly process by which the debt ceiling is increased.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. EXTENSION OF PRESIDENTIAL MODIFICATION OF THE DEBT CEILING.
(a) In General.--Chapter 31 of title 31, United States Code, is
amended by inserting after section 3101A the following new section:
``Sec. 3101B. Extension of presidential modification of the debt
ceiling
``(a) Extension of Debt Limit.--Whenever the President submits a
written certification to Congress that the President has determined
that the debt subject to limit is within $100,000,000,000 of the limit
in section 3101(b) and that further borrowing is required to meet
existing commitments, the Secretary of the Treasury may exercise
authority to borrow an additional amount that the Secretary estimates
is sufficient to meet commitments for one year, subject to the
enactment of a joint resolution of disapproval enacted pursuant to this
section. The written certification shall also contain the amount that
the Secretary so estimates is sufficient.
``(b) Joint Resolution of Disapproval.--
``(1) In general.--The debt limit may not be raised under
this section if, within 50 calendar days after the date on
which Congress receives a certification described in subsection
(a), there is enacted into law a joint resolution disapproving
the President's exercise of authority with respect to such
additional amount.
``(2) Contents of joint resolution.--For the purpose of
this section, the term `joint resolution' means only a joint
resolution--
``(A) for the certification described in subsection
(a);
``(B) which does not have a preamble;
``(C) the title of which is only as follows: `Joint
resolution relating to the disapproval of the
President's exercise of authority to increase the debt
limit by $________, as submitted under section 3101B of
title 31, United States Code, on ______' (with the
first blank containing the amount of such proposed
increase and the second blank containing the date of
such submission); and
``(D) the matter after the resolving clause of
which is only as follows: `That Congress disapproves of
the President's exercise of authority to increase the
debt limit, as exercised pursuant to the certification
under section 3101B(a) of title 31, United States
Code.'.
``(c) Expedited Consideration; Amendment Not in Order; Coordination
With Action by Other House.--The provisions of subsections (c), (d),
(e), and (f) of section 3101A shall apply to any joint resolution of
disapproval under this section, except that--
``(1) the date set forth in section (d)(3) of such section;
``(2) the exception for the $400,000,000,000 increase
described in subsection (f)(5) of such section; and
``(3) subsection (f)(6);
shall be inapplicable.''.
(b) Rules of the House of Representatives and Senate.--Section
3101A(g) is amended by inserting ``and subsections (b) and (c) of
section 3101B'' before ``are enacted by Congress''.
(c) Conforming Amendment.--The table of sections for chapter 31 of
title 31, United States Code, is amended by inserting after the item
relating to section 3101A the following new item:
``3101B. Extension of presidential modification of the debt ceiling.''.
<all>
Introduced in House
Introduced in House
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 committee concerned.
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 committee concerned.
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