118th Congress Economics and Public Finance
H.R. 3526: Extraordinary Measures Transparency Act
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill requires the Department of the Treasury to report to Congress regarding extraordinary measures used to avoid exceeding the federal debt limit.
(The term extraordinary measures refers to a series of actions that Treasury may implement to allow the United States to borrow additional funds without exceeding the debt limit. The measures often include suspensions of debt sales and suspensions or redemptions of investments in certain government funds.)
If Treasury determines that the public debt will reach the limit in 30 days, Treasury must submit a report to Congress that includes
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- a description of the extraordinary measures that Treasury intends to use if the debt limit is not raised,
- an estimate of the cost of the measures,
- a projection of how long the measures will fund the federal government, and
- a projection of the administrative cost of taking the measures.
Treasury must also submit specified daily reports to Congress when the measures are being used. After using the measures, Treasury must report to Congress regarding the measures that were used and the administrative cost of the measures.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Donald Davis D-NCOriginal
Who scored on this bill
- 1Zachary (Zach) Nunn SponsorDrew cross-party cosponsors, introduced2 events+6
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Other bills by Zachary (Zach) Nunn
History
- Introduced in the House by Zachary (Zach) Nunn.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Ways and Means.