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S.1598: 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||Barbara Boxer, D-Calif.|
|Total Cosponsors||2 (All Democrats)|
|Introduced||Oct. 29, 2013|
|Latest Major Action||Oct. 29, 2013|
|See it on||GovTrack|
|See it on||C-SPAN|
- Bill introduced in the Senate
- Bill passed in the Senate
- Bill passed in the House
- Bill signed into law
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:
- 15 calendar days ...
(Source: Congressional Research Service)
|Oct. 29, 2013||Read twice and referred to the Committee on Finance.|