,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #ddd  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,febru>y #ab1 #bjai,mr4
 ,m]kley 7= himself & ,mr4 ,ka9e7       
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to provide a       
process = ensur+ ! ,unit$ ,/ates does n 
default on its obligations4  #a4 ,%ort  
title ,?is ,act may be cit$ z ! ,protect
 ,our ,citiz5s f ,reckless ,extortion ( 
our ,debt & ,irresponsible ,tactics ,act
 ( #bjai or ! ,protect ,our ,,cr$it     
,act4  #b4 ,additional ,presid5tial     
modification ( ! debt ceil+  7a7 ,9     
g5]al ,sub*apt] ,i ( *apt] #ca (        
subtitle ,,iii ( title #ca1 ,unit$      
,/ates ,code1 is am5d$-- 7#a7 9 section 
#caja7;b71 by ins]t+ or #caja;,b aft]   
section #caja;,a2 &  7#b7 by ins]t+ aft]
 section #caja;,a ! foll[+3  #caja;,b4  
,additional ,presid5tial modification ( 
! debt ceil+  7a7 ,def9ition ,9 ?is     
section1 ! t]m jo9t resolution means    
only a jo9t resolution--  7#a7 t is     

introduc$ dur+ ! p]iod-- 7,a7 beg9n+ on 
! date a c]tification describ$ 9        
p>agraph 7#a7 or 7#b7 ( subsection 7b7  
is receiv$ by ,congress2 &  7,b7 end+ on
 ! date t is #c legislative days        
7exclud+ any day on :i* x is n 9 ord] to
 introduce resolutions7 aft] ! date     
describ$ 9 subp>agraph 7,a72  7#b7 :i*  
does n h a preamble2  7#c7 ! title ( :i*
 is only z foll[s3 ,jo9t resolution     
relat+ to ! disapproval ( ! ,presid5t's 
ex]cise ( au?ority to increase ! debt   
limit1 z submitt$ "u section #caja;,b ( 
title #ca1 ,unit$ ,/ates ,code1 on  7) !
 blank conta9+ ! date ( su* submission72
 &  7#d7 ! matt] aft] ! resolv+ clause (
 :i* is only z foll[s3 ,t ,congress     
disapproves ( ! ,presid5t's ex]cise (   
au?ority to increase ! debt limit1 z    
ex]cis$ pursuant to ! c]tification      
submitt$ "u section #caja;,b7b7 ( title 
#ca1 ,unit$ ,/ates ,code1 on 4 7) !     
blank conta9+ ! date ( su* submission74 
7b7 ,submissions to ,congress  7#a7     
,annual submission ,be=e ! beg9n+ ( ea* 

fiscal ye>1 ! ,presid5t %all submit to  
,congress a writt5 c]tification specify+
 ! am\nt ( obligations t are subject to 
limit "u section #caja7;b71 9 addition  
to ! am\nt ( su* obligations au?oriz$ to
 be out/&+ on ! date ( ! c]tification1 t
 ! ,presid5t det]m9es x %all be necess>y
 to issue dur+ ! next fiscal ye> to meet
 exi/+ commitm5ts4  7#b7 ,submission    
dur+ fiscal ye> ,if ! ,presid5t det]m9es
 dur+ a fiscal ye> t ! debt subject to  
limit "u section #caja7;b7 is )9        
#bej1jjj1jjj1jjj ( su* limit & t fur!r  
borr[+ is necess>y to meet exi/+        
commitm5ts1 ! ,presid5t %all submit to  
,congress a writt5 c]tification--  7,a7 
specify+ ! am\nt ( obligations t are    
subject to limit "u section #caja7;b71 9
 addition to ! am\nt ( su* obligations  
au?oriz$ to be out/&+ on ! date ( !     
c]tification1 t ! ,presid5t det]m9es x  
%all be necess>y to issue dur+ ! fiscal 
ye> to meet exi/+ commitm5ts2 &  7,b7   
conta9+ ! reason = any discrepancy f !  
c]tification submitt$ "u p>agraph 7#a7 =

 ! fiscal ye>4  7#c7 ,effect ( failure  
to enact disapproval ,if a jo9t         
resolution is n enact$ ) respect to a   
c]tification "u p>agraph 7#a7 or 7#b7   
dur+ ! #ae-legislative-day p]iod beg9n+ 
on ! date on :i* ,congress receives !   
c]tification1 ! limit "u section        
#caja7;b7 is increas$ by ! am\nt        
specifi$ 9 ! c]tification4  7#d7 ,effect
 ( enactm5t ( disapproval ,if a jo9t    
resolution is enact$ ) respect to a     
c]tification "u p>agraph 7#a7 or 7#b7   
dur+ ! #ae-legislative-day p]iod beg9n+ 
on ! date on :i* ,congress receives !   
c]tification1 ! limit "u section        
#caja7;b7--  7,a7 %all n be increas$ by 
! am\nt specifi$ 9 ! c]tification2 &    
7,b7 %all be increas$ 9 accordance )    
subsection 7c77#b74  7c7 ,susp5sion =   
mid-,ye> c]tification  7#a7 ,9 g5]al    
,section #caja7;b7 %all n apply = !     
p]iod-- 7,a7 beg9n+ on ! date on :i* !  
,presid5t submits to ,congress a        
c]tification "u subsection 7b77#b72 &   
7,b7 end+ on ! e>li] (--  7i7 ! date t  

is #ae legislative days aft] ,congress  
receives ! c]tification2 or  7ii7 ! date
 ( enactm5t ( a jo9t resolution )       
respect to ! c]tification4  7#b7        
,special rule relat+ to obligations     
issu$ dur+ susp5sion p]iod  7,a7 ,9     
g5]al ,if a jo9t resolution is enact$ ) 
respect to a c]tification "u subsection 
7b77#b71 effective on ! day aft] su*    
date ( enactm5t1 ! limitation 9 section 
#caja7;b7 is increas$ to ! ext5t t--    
7i7 ! face am\nt ( obligations issu$ "u 
?is *apt] & ! face am\nt ( obligations  
^: pr9cipal & int]e/ are gu>ante$ by !  
,unit$ ,/ates ,gov]nm5t 7except gu>ante$
 obligations held by ! ,secret>y ( !    
,treasury7 out/&+ on ! cal5d> day aft]  
su* date ( enactm5t1 exce$s  7ii7 ! face
 am\nt ( su* obligations out/&+ on !    
date on :i* ! ,presid5t submits !       
c]tification4  7,b7 ,limitation ,an     
obligation %all n be tak5 into acc\nt "u
 subp>agraph 7,a7 unless ! issuance (   
su* obligation 0 necess>y to fund a     
commitm5t incurr$ by ! ,f$]al ,gov]nm5t 

t requir$ paym5t dur+ !                 
#ae-legislative-day p]iod describ$ 9    
p>agraph 7#a77;,b77i74  7d7 ,exp$it$    
consid]ation 9 ,h\se ( ,repres5tatives  
7#a7 ,report+ & dis*>ge ,any committee (
 ! ,h\se ( ,repres5tatives to :i* a jo9t
 resolution is ref]r$ %all report x to !
 ,h\se ( ,repres5tatives )\t am5dm5t n  
lat] ?an #e cal5d> days aft] ! date (   
introduction ( ! jo9t resolution4 ,if a 
committee fails to report ! jo9t        
resolution )9 t p]iod1 ! committee %all 
be dis*>g$ f fur!r consid]ation ( ! jo9t
 resolution & ! jo9t resolution %all be 
ref]r$ to ! appropriate cal5d>4  7#b7   
,proce$+ to consid]ation ,aft] ea*      
committee au?oriz$ to consid] a jo9t    
resolution reports x to ! ,h\se (       
,repres5tatives or has be5 dis*>g$ f its
 consid]ation1 x %all be 9 ord]1 n lat] 
?an ! six? day aft] introduction ( !    
jo9t resolution1 to move to proce$ to   
consid] ! jo9t resolution 9 ! ,h\se (   
,repres5tatives4 ,all po9ts ( ord] aga9/
 ! motion are waiv$4 ,su* a motion %all 

n be 9 ord] aft] ! ,h\se (              
,repres5tatives has dispos$ ( a motion  
to proce$ on a jo9t resolution address+ 
a p>ticul> submission4 ,! previ\s "q    
%all be consid]$ z ord]$ on ! motion to 
its adoption )\t int]v5+ motion4 ,!     
motion %all n be debatable4 ,a motion to
 reconsid] ! vote by :i* ! motion is    
dispos$ ( %all n be 9 ord]4  7#c7       
,consid]ation ,! jo9t resolution %all be
 consid]$ z read4 ,all po9ts ( ord]     
aga9/ ! jo9t resolution & aga9/ its     
consid]ation are waiv$4 ,! previ\s "q   
%all be consid]$ z ord]$ on ! jo9t      
resolution to its passage )\t int]v5+   
motion except #b h\rs ( debate equally  
divid$ & controll$ by ! propon5t & an   
oppon5t4 ,an am5dm5t to ! jo9t          
resolution or a motion to reconsid] !   
vote on passage ( ! jo9t resolution %all
 n be 9 ord]4  7e7 ,exp$it$ proc$ure 9  
,s5ate  7#a7 ,placem5t on cal5d> ,^u    
introduction 9 ! ,s5ate1 a jo9t         
resolution %all be imm$iately plac$ on !
 cal5d>4  7#b7 ,floor consid]ation  7,a7

 ,9 g5]al ,not)/&+ rule ,,xxii ( ! ,/&+ 
,rules ( ! ,s5ate1 x is 9 ord] at any "t
 dur+ ! p]iod beg9n+ on ! day aft] !    
date on :i* ,congress receives a        
c]tification "u p>agraph 7#a7 or 7#b7 ( 
subsection 7b7 & end+ on ! six? day aft]
 ! date ( introduction ( a jo9t         
resolution 7ev5 ?\gh a previ\s motion to
 ! same effect has be5 disagre$ to7 to  
move to proce$ to ! consid]ation ( !    
jo9t resolution1 & all po9ts ( ord]     
aga9/ ! jo9t resolution 7& aga9/        
consid]ation ( ! jo9t resolution7 are   
waiv$4 ,! motion to proce$ is n         
debatable4 ,! motion is n subject to a  
motion to po/pone4 ,a motion to         
reconsid] ! vote by :i* ! motion is     
agre$ to or disagre$ to %all n be 9     
ord]4 ,if a motion to proce$ to !       
consid]ation ( ! resolution is agre$ to1
 ! jo9t resolution %all rema9 ! unf9i%$ 
bus9ess until dispos$ (4  7,b7          
,consid]ation ,consid]ation ( ! jo9t    
resolution1 & on all debatable motions &
 appeals 9 connection !re)1 %all be     

limit$ to n m ?an #aj h\rs1 :i* %all be 
divid$ equally betwe5 ! majority &      
m9ority lead]s or _! designees4 ,a      
motion fur!r to limit debate is 9 ord] &
 n debatable4 ,an am5dm5t to1 or a      
motion to po/pone1 or a motion to proce$
 to ! consid]ation ( o!r bus9ess1 or a  
motion to recommit ! jo9t resolution is 
n 9 ord]4  7,c7 ,vote on passage ,if !  
,s5ate has vot$ to proce$ to a jo9t     
resolution1 ! vote on passage ( ! jo9t  
resolution %all occur imm$iately foll[+ 
! conclusion ( consid]ation ( ! jo9t    
resolution1 & a s+le quorum call at !   
conclusion ( ! debate if reque/$ 9      
accordance ) ! rules ( ! ,s5ate4  7,d7  
,rul+s ( ! *air on proc$ure ,appeals f !
 decisions ( ! ,*air relat+ to !        
application ( ! rules ( ! ,s5ate1 z !   
case may be1 to ! proc$ure relat+ to a  
jo9t resolution %all be decid$ )\t      
debate4  7f7 ,coord9ation ) action by   
o!r h\se  7#a7 ,9 g5]al ,if1 be=e pass+ 
! jo9t resolution1 "o ,h\se receives f !
 o!r a jo9t resolution-- 7,a7 ! jo9t    

resolution ( ! o!r ,h\se %all n be      
ref]r$ to a committee2 &  7,b7 !        
proc$ure 9 ! receiv+ ,h\se %all be !    
same z if no jo9t resolution _h be5     
receiv$ f ! o!r ,h\se1 except t ! vote  
on f9al passage %all be on ! jo9t       
resolution ( ! o!r ,h\se4  7#b7         
,treatm5t ( jo9t resolution ( o!r h\se  
,if ! ,s5ate fails to introduce or      
consid] a jo9t resolution "u ?is        
section1 ! jo9t resolution ( ! ,h\se    
%all be entitl$ to exp$it$ floor        
proc$ures "u ?is section4  7#c7         
,treatm5t ( companion measures ,if1     
foll[+ passage ( ! jo9t resolution 9 !  
,s5ate1 ! ,s5ate receives ! companion   
measure f ! ,h\se ( ,repres5tatives1 !  
companion measure %all n be debatable4  
7#d7 ,consid]ation aft] passage  7,a7 ,9
 g5]al ,if ,congress passes a jo9t      
resolution1 ! p]iod beg9n+ on ! date !  
,presid5t is pres5t$ ) ! jo9t resolution
 & end+ on ! date ! ,presid5t signs1    
all[s to become law )\t 8 signature1 or 
vetoes & returns ! jo9t resolution 7b   

exclud+ days :5 ei!r ,h\se is n 9       
session7 %all be disreg>d$ 9 comput+ !  
legislative day p]iod describ$ 9        
p>agraphs 7#c7 & 7#d7 ( subsection 7b7 &
 subsection 7c77#a74  7,b7 ,debate      
,debate on a veto message 9 ! ,s5ate "u 
?is section %all be #a h\r equally      
divid$ betwe5 ! majority & m9ority      
lead]s or _! designees4  7#e7 ,veto     
ov]ride ,if )9 ! legislative day p]iod  
describ$ 9 p>agraphs 7#c7 & 7#d7 (      
subsection 7b7 & subsection 7c77#a71    
,congress ov]rides a veto ( a jo9t      
resolution1 except z provid$ 9          
subsection 7c77#b71 ! limit on debt     
provid$ 9 section #caja7;b7 %all n be   
rais$ "u ?is section4  7g7 ,rules (     
,h\se ( ,repres5tatives & ,s5ate        
,subsections 7a71 7d71 7e71 & 7f7       
7except = p>agraphs 7#d77;,a7 & 7#e7 (  
su* subsection7 are enact$ by           
,congress--  7#a7 z an ex]cise ( !      
rulemak+ p[] ( ! ,s5ate & ,h\se (       
,repres5tatives1 respectively1 & z su* x
 is deem$ a "p ( ! rules ( ea* ,h\se1   

respectively1 b applicable only )       
respect to ! proc$ure to be foll[$ 9 t  
,h\se 9 ! case ( a jo9t resolution1 & x 
sup]s$es o!r rules only to ! ext5t t x  
is inconsi/5t ) su* rules2 &  7#b7 )    
full recognition ( ! con/itutional "r ( 
ei!r ,h\se to *ange ! rules 7s f> z     
relat+ to ! proc$ure ( t ,h\se7 at any  
"t1 9 ! same mann]1 & to ! same ext5t z 
9 ! case ( any o!r rule ( t ,h\se4  4   
7b7 ,con=m+ am5dm5t ,! table ( sections 
= *apt] #ca ( title #ca1 ,unit$ ,/ates  
,code1 is am5d$ by ins]t+ aft] ! item   
relat+ to section #caja;,a ! foll[+3    
#caja;,b4 ,additional ,presid5tial      
modification ( ! debt ceil+4  4