H.R.2586: To provide for a temporary increase in the public debt limit, and for other purposes.

About This Bill

  • This bill was introduced in the 104th Congress
  • This bill is primarily about congress
  • Introduced Nov. 7, 1995
  • Latest Major Action Dec. 7, 1995

Bill Summary

Increases the public debt limit to $4.967 trillion through December 12, 1995, and decreases it to $4.8 trillion thereafter. (Sec. 2) Prohibits any Government officer or employee, in order to not increase or to reduce the amount of outstanding public debt obligations, from: (1) delaying any deposit or credit of any amount to any Federal fund; (2) refraining from investing any Federal fund amounts in public debt obligations; or (3) disinvesting...

(Source: Library of Congress)

Bill Actions

Date Description
Referred to the House Committee on Ways and Means.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 21 - 13.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 104-325.
Placed on the Union Calendar, Calendar No. 176.
Rules Committee Resolution H. Res. 258 Reported to House. Rule provides for consideration of H.R. 2586. Upon adoption of this resolution, it shall be in order without intervention of any point of order to consider the bill in the House. The amendment recommended by the Committee on Ways and Means now printed in the bill, and the amendments specified in the report accompanying this resolution shall be considered as adopted. Specified amendments are in order. The previous question shall be considered as ordered on the bill, as amended, and any amendments thereto to final passage without intervening motion except: 1. one hour of debate on the bill; 2. one motion to amend by the chairman of Ways and Means, debatable for 20 minutes; 3. one motion to amend by Representative Walker, without intervention of any point of order, debatable for 40 minutes; and 4. one motion to recommit, if offered by the Minority Leader or his designee.
Rule H. Res. 258 passed House.
Considered under the provisions of rule H. Res. 258.
Rule provides for consideration of H.R. 2586. Upon adoption of this resolution, it shall be in order without intervention of any point of order to consider the bill in the House. The amendment recommended by the Committee on Ways and Means now printed in the bill, and the amendments specified in the report accompanying this resolution shall be considered as adopted. Specified amendments are in order. The previous question shall be considered as ordered on the bill, as amended, and any amendments thereto to final passage without intervening motion except: 1. one hour of debate on the bill; 2. one motion to amend by the Chairman of Ways and Means, debatable for 20 minutes; 3. one motion to amend by Representative Walker, without intervention of any point of order, debatable for 40 minutes; and 4. one motion to recommit, if offered by the Minority Leader or his designee.
DEBATE - The House proceeded with one hour of debate.
DEBATE - Pursuant to the provisions of H. Res. 258, the House proceeded with forty minutes of debate on the Walker amendment.
The previous question was ordered pursuant to the rule.
Mr. Payne (VA) moved to recommit with instructions to Ways and Means.
DEBATE - The House proceeded with ten minutes of debate on the motion to recommit the bill with instructions to the Committee on Ways and Means.
The previous question on the motion to recommit with instructions was ordered pursuant to the rule.
On motion to recommit with instructions Failed by the Yeas and Nays: 186 - 235 (Roll no. 780).
On passage Passed by recorded vote: 227 - 194 (Roll no. 781).
Motion to reconsider laid on the table Agreed to without objection.
Rules Committee Resolution H. Res. 262 Reported to House. Rule provides for consideration of H.R. 2586 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit. Upon adoption of this resolution, it shall be in order without intervention of any point of order to take the bill from the Speaker's table, with any Senate amendments thereto, and to consider in the House a motion offered by Majority Leader or his designee to dispose of all Senate amendments.
Received in the Senate, read twice.
Measure laid before Senate.
Amendment SP 3052 proposed by Senator Abraham.
Amendment SP 3052 agreed to in Senate by Voice Vote.
Amendment SP 3053 proposed by Senator Moynihan.
Motion to table SP 3053 agreed to in Senate by Yea-Nay Vote. 49-47. Record Vote No: 568.
Passed Senate with an amendment by Yea-Nay Vote. 49-47. Record Vote No: 569.
Message on Senate action sent to the House.
Rule H. Res. 262 passed House.
Pursuant to the provisions of H. Res. 262, the House moved to agree to the Senate amendment.
DEBATE - Pursuant to the provisions of H. Res. 262, the House proceeded with one hour of debate on the Archer motion to agree to the Senate amendment, which strikes the House-passed language providing for the elimination of the Commerce Department.
The previous question was ordered pursuant to the rule.
On motion that the House agree to the Senate amendment Agreed to by the Yeas and Nays: 219 - 185 (Roll no. 785).
Motion to reconsider laid on the table Agreed to without objection.
Cleared for White House.
Presented to President.
Vetoed by President.
The Chair laid before the House the veto message from the President.
The Chair announced that the objections of the President would be spread at large upon the Journal, and the veto message and the bill would be printed as a House Document.
Mr. Archer moved to postpone consideration of the veto message until Dec. 12.
DEBATE - The House proceeded with one hour of debate on the Archer motion.
The previous question on the motion to postpone consideration of the veto message was ordered without objection.
On motion to postpone consideration of the veto message Agreed to by the Yeas and Nays: 223 - 184 (Roll no. 788).
Mr. Archer moved to refer the bill and accompanying veto message to the Committee on Ways and Means.
On motion to refer the bill and the accompanying veto message to the Committee on Ways and Means. Agreed to without objection.
Nov. 7, 1995

Introduced in the House by Bill Archer (R-Texas)

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