H.R.3372: Pay Our Bills Act

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about economics and public finance
You can read the bill
Sponsor Michael M. Honda, D-Calif.
Total Cosponsors 24 (All Democrats)
Introduced Oct. 29, 2013
Latest Major Action Oct. 29, 2013
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Bill Progress

  • Bill introduced in the House   
  • Bill passed in the House   
  • Bill passed in the Senate   
  • Bill signed into law

Bill Summary

Pay Our Bills Act - 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 required to meet existing commitments if the President certifies to Congress that the public debt is within $100 billion of the current limit and that further borrowing is required. (The debt limit was $16.699 trillion before its suspension in the Continuing Appropriations Act, FY2014 [P.L. 113-46].)

Authorizes Congress to use current requirements for expedited consideration of the joint resolution. Increases the debt limit by the certified amount if the time for disaproval has lapsed without enactment of the joint resolution.

Suspends the debt limit for the period beginning on the date on which the President submits such a certification to Congress and ending on the earlier of:

Bill Actions

Date Description
Oct. 29, 2013 Referred to House Rules
Oct. 29, 2013 Referred to House Ways and Means