,i  #aacth ,,congress  #ast ,session    
,h4 ,r4 #cbic  ,,in ,,the ,,house ,,of  
,,representatives  ,october #ae1        
#bjac,mr4 ,hastings of ,florida         
introduced the following bill2 which was
 referred to the ,committee on ,ways and
 ,means  ,a ,,bill  ,to reform the      
public debt limit4  #a4 ,short title    
,this ,act may be cited as the ,debt    
,limit ,reform ,act4  #b4 ,reform of the
 public debt limit  7a7 ,authority of   
,president ,to increase public debt     
limit ,section #caja of title #ca1      
,united ,states ,code1 is amended by    
adding at the end the following new     
subsection3  7d7 ,the dollar amount in  
effect under subsection 7b7 shall be    
increased at such times and in such     
amounts as the ,president of the ,united
 ,states1 or his designee1 may provide4 
4  7b7 ,government-,held debt not taken 
into account for purposes of the public 
debt limit ,section #caja of title #ca1 
,united ,states ,code1 as amended by    
subsection 7a7 is amended by adding at  

the end the following new subsection3   
7e7 ,obligations held by the ,united    
,states ,government 7including any      
obligation which is classified as an    
intragovernmental holding by the        
,secretary of the ,treasury or which is 
held by any agency or instrumentality of
 the ,united ,states7 shall not be taken
 into account for purposes of applying  
the limitation imposed under subsection 
7b74  4