Bill
Bill > S1395
summary
Introduced
05/01/2023
05/01/2023
In Committee
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A bill to temporarily suspend the debt limit through December 31, 2024.
AI Summary
This bill temporarily suspends the debt limit through December 31, 2024. It specifies that the existing statutory limit on the public debt (known as the "debt ceiling") will not apply during this period. Effective January 1, 2025, the debt ceiling will be increased to accommodate the additional debt obligations issued by the government during the suspension period, but only to the extent necessary to fund commitments that required payment before that date.
Sponsors (4)
Last Action
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 40. (on 05/02/2023)
Bill Topics
Macroeconomics
- ‐ National Budget and Debt
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/1395/all-info | 05/02/2023 |
| BillText | https://www.congress.gov/118/bills/s1395/BILLS-118s1395pcs.pdf | 05/04/2023 |
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