,i  #aahth ,,congress  #ast ,session    
,h4 ,r4 #ciec  ,,in ,,the ,,house ,,of  
,,representatives  ,june #i1 #bjbc,mr4  
,boyle of ,pennsylvania 7for himself1   
,ms4 ,barragn1 ,ms4 ,lee of ,california1
 ,mr4 ,davis of ,illinois1 ,ms4         
,schakowsky1 ,mr4 ,larson of            
,connecticut1 ,ms4 ,williams of         
,georgia1 ,mr4 ,carter of ,louisiana1   
,ms4 ,tlaib1 ,mr4 ,landsman1 ,ms4       
,mc,collum1 ,ms4 ,lofgren1 ,mr4 ,gomez1 
,mr4 ,deluzio1 ,mr4 ,himes1 ,mr4 ,frost1
 ,mr4 ,sherman1 ,ms4 ,brownley1 ,mr4    
,connolly1 ,mr4 ,ivey1 ,mr4             
,ruppersberger1 ,ms4 ,norton1 ,ms4      
,jackson ,lee1 ,mr4 ,nadler1 ,mr4       
,mullin1 ,mr4 ,kim of ,new ,jersey1     
,mrs4 ,watson ,coleman1 ,mrs4 ,torres of
 ,california1 ,mr4 ,cohen1 ,mrs4        
,fletcher1 ,mr4 ,norcross1 ,mr4         
,mc,govern1 ,ms4 ,jayapal1 ,ms4         
,strickland1 ,mr4 ,blumenauer1 ,mr4     
,cleaver1 ,ms4 ,omar1 ,ms4 ,adams1 ,ms4 
,wexton1 ,mrs4 ,foushee1 ,ms4 ,chu1 ,mr4
 ,carson1 ,mr4 ,grijalva1 ,ms4 ,pelosi1 

,mr4 ,evans1 ,mr4 ,payne1 ,mr4 ,garca of
 ,illinois1 and ,mr4 ,johnson of        
,georgia7 introduced the following bill2
 which was referred to the ,committee on
 ,ways and ,means1 and in addition to   
the ,committee on ,rules1 for a period  
to be subsequently determined by the    
,speaker1 in each case for consideration
 of such provisions as fall within the  
jurisdiction of the committee concerned 
,a ,,bill  ,to amend chapter #ca of     
title #ca1 ,united ,states ,code1 to    
provide procedures for congressional    
disapproval of the issuance of          
additional debt4  #a4 ,short title ,this
 ,act may be cited as the ,debt ,ceiling
 ,reform ,act4  #b4 ,procedures for     
congressional disapproval of issuance of
 additional debt ,section #caja of title
 #ca1 ,united ,states ,code1 is amended 
to read as follows3  #caja4 ,public debt
 limit  7a7 ,definition of joint        
resolution ,in this section1 the term   
joint resolution means a joint          
resolution-- 7#a7 that is introduced    

during the period-- 7,a7 beginning on   
the date on which a certification under 
subsection 7b77#a7 is received2 and     
7,b7 ending on the date that is #c      
calendar days after the date described  
in subparagraph 7,a7 7or1 if a ,house   
was not in session1 the next calendar   
day on which that ,house is in session72
  7#b7 which does not have a preamble2  
7#c7 the title of which is only as      
follows3 ,joint resolution relating to  
the disapproval of the ,secretary of the
 ,treasury's exercise of authority to   
issue additional debt1 as submitted     
under section #caja of title #ca1       
,united ,states ,code1 on  7with the    
blank space being filled in with the    
date on which the applicable            
certification under subsection 7b77#a7  
was received72 and  7#d7 the matter     
after the resolving clause of which is  
only as follows3 ,that ,congress        
disapproves of the ,secretary of the    
,treasury's exercise of the authority to
 issue additional debt1 as exercised    

pursuant to the certification under     
section #caja7;b7 of title #ca1 ,united 
,states ,code44  7b7 ,certification     
7#a7 ,in general ,the ,secretary of the 
,treasury shall submit to ,congress a   
written certification whenever the      
,secretary of the ,treasury determines  
that the debt is within #ajj1jjj1jjj1jjj
 of a #a1jjj1jjj1jjj1jjj increment and  
that further borrowing is required to   
meet existing commitments4  7#b7        
,authority to issue debt after          
certification ,subject to the           
requirements of this section1 the       
,united ,states may issue additional    
debt as necessary to meet existing      
commitments on and after the date on    
which the ,secretary of the ,treasury   
submits a written certification to      
,congress under paragraph 7#a74  7#c7   
,resolution of disapproval ,congress may
 consider a joint resolution relating to
 each certification submitted by the    
,secretary of the ,treasury under       
paragraph 7#a74  7c7 ,enactment of joint

 resolution ,the ,united ,states may not
 issue additional debt if1 not later    
than #cj calendar days after the date on
 which ,congress receives a             
certification submitted under subsection
 7b77#a7 7regardless of whether         
,congress is in session71 there is      
enacted into law a joint resolution     
disapproving the ,secretary of the      
,treasury's exercise of authority to    
issue additional debt4  7d7 ,expedited  
consideration in the ,house of          
,representatives  7#a7 ,reconvening     
,upon receipt of a certification        
submitted under subsection 7b77#a71 the 
,speaker1 if the ,house of              
,representatives would otherwise be     
adjourned1 shall notify the ,members of 
the ,house of ,representatives that1    
pursuant to this section1 the ,house of 
,representatives shall convene not later
 than the second calendar day after     
receipt of such certification4  7#b7    
,reporting and discharge ,any committee 
of the ,house of ,representatives to    

which a joint resolution is referred    
shall report it to the ,house of        
,representatives without amendment not  
later than #e calendar days after the   
date of introduction of the joint       
resolution4 ,if a committee fails to    
report the joint resolution within that 
period1 the committee shall be          
discharged from further consideration of
 the joint resolution and the joint     
resolution shall be referred to the     
appropriate calendar4  7#c7 ,proceeding 
to consideration ,after each committee  
authorized to consider a joint          
resolution reports it to the ,house of  
,representatives or has been discharged 
from its consideration1 it shall be in  
order1 not later than the sixth day     
after introduction of the joint         
resolution1 to move to proceed to       
consider the joint resolution in the    
,house of ,representatives4 ,all points 
of order against the motion are waived4 
,such a motion shall not be in order    
with respect to a joint resolution      

relating to a certification after the   
,house of ,representatives has disposed 
of a motion to proceed that joint       
resolution4 ,the previous question shall
 be considered as ordered on the motion 
to its adoption without intervening     
motion4 ,the motion shall not be        
debatable4 ,a motion to reconsider the  
vote by which the motion is disposed of 
shall not be in order4  7#d7            
,consideration ,a joint resolution shall
 be considered as read4 ,all points of  
order against a joint resolution and    
against its consideration are waived4   
,an amendment to a joint resolution is  
not in order4 ,the previous question    
shall be considered as ordered on a     
joint resolution to its passage without 
intervening motion except #b hours of   
debate equally divided and controlled by
 the proponent and an opponent4 ,a      
motion to reconsider the vote on passage
 of a joint resolution shall not be in  
order4  7e7 ,expedited procedure in the 
,senate  7#a7 ,reconvening ,upon receipt

 of a certification under subsection    
7b77#a71 if the ,senate has adjourned or
 recessed for more than #b days1 the    
majority leader of the ,senate1 after   
consultation with the minority leader of
 the ,senate1 shall notify the ,members 
of the ,senate that1 pursuant to this   
section1 the ,senate shall convene not  
later than the second calendar day after
 receipt of such message4  7#b7         
,placement on calendar ,upon            
introduction in the ,senate1 a joint    
resolution shall be immediately placed  
on the calendar4  7#c7 ,floor           
consideration  7,a7 ,in general         
,notwithstanding rule ,,xxii of the     
,standing ,rules of the ,senate1 it is  
in order at any time during the period  
beginning on the day after the date on  
which ,congress receives a certification
 under subsection 7b77#a7 and ending on 
the #fth day after the date on which    
,congress receives the certification    
7even though a previous motion to the   
same effect has been disagreed to7 to   

move to proceed to the consideration of 
a joint resolution relating to the      
certification1 and all points of order  
against the joint resolution 7and       
against consideration of the joint      
resolution7 are waived4 ,the motion to  
proceed is not debatable4 ,the motion is
 not subject to a motion to postpone4 ,a
 motion to reconsider the vote by which 
the motion is agreed to or disagreed to 
shall not be in order4 ,if a motion to  
proceed to the consideration of a joint 
resolution is agreed to1 the joint      
resolution shall remain the unfinished  
business until disposed of4  7,b7       
,consideration ,consideration of a joint
 resolution1 and on all debatable       
motions and appeals in connection       
therewith1 shall be limited to not more 
than #aj hours1 which shall be divided  
equally between the majority and        
minority leaders or their designees4 ,a 
motion further to limit debate is in    
order and not debatable4 ,an amendment  
to a joint resolution1 a motion to      

postpone1 or a motion to proceed to the 
consideration of other business1 or a   
motion to recommit a joint resolution is
 not in order4  7,c7 ,vote on passage   
,if the ,senate has voted to proceed to 
a joint resolution1 the vote on passage 
of the joint resolution shall occur     
immediately following the conclusion of 
consideration of the joint resolution1  
and a single quorum call at the         
conclusion of the debate if requested in
 accordance with the rules of the       
,senate4  7,d7 ,rulings of the chair on 
procedure ,appeals from the decisions of
 the ,chair relating to the application 
of the rules of the ,senate1 as the case
 may be1 to the procedure relating to a 
joint resolution shall be decided       
without debate4  7f7 ,coordination with 
action by other ,house  7#a7 ,in general
 ,if1 before passing a joint resolution 
relating to a certification under       
subsection 7b77#a71 one ,house receives 
from the other a joint resolution       
relating to the same certification--    

7,a7 the joint resolution of the other  
,house shall not be referred to a       
committee2 and  7,b7 the procedure in   
the receiving ,house shall be the same  
as if no joint resolution had been      
received from the other ,house until the
 vote on passage1 when the joint        
resolution received from the other      
,house shall supplant the joint         
resolution of the receiving ,house4     
7#b7 ,treatment of joint resolution of  
other house ,if the ,senate fails to    
introduce or consider a joint resolution
 under this section relating to a       
certification under subsection 7b77#a71 
the joint resolution of the ,house      
relating to the same certification shall
 be entitled to expedited floor         
procedures under this section4  7#c7    
,treatment of companion measures ,if1   
following passage of a joint resolution 
in the ,senate1 the ,senate receives the
 companion measure from the ,house of   
,representatives1 the companion measure 
shall not be debatable4  7#d7           

,consideration after passage  7,a7 ,in  
general ,if ,congress passes a joint    
resolution1 the period beginning on the 
date the ,president is presented with   
the joint resolution and ending on the  
date the ,president signs1 allows to    
become law without his signature1 or    
vetoes and returns the joint resolution 
7but excluding days when either ,house  
is not in session7 shall be disregarded 
in computing the calendar day period    
described in subsection 7c74  7,b7 ,veto
 message ,debate on a veto message in   
the ,senate under this section shall be 
#a hour equally divided between the     
majority and minority leaders or their  
designees4  7#e7 ,veto override ,if1    
within the calendar day period described
 in subsection 7c71 ,congress overrides 
a veto of a joint resolution relating to
 a certification submitted under        
subsection 7b77#a71 the ,united ,states 
may not issue any additional debt under 
this chapter4  7g7 ,rules of ,house of  
,representatives and ,senate ,this      

subsection and subsections 7a71 7d71    
7e71 and 7f7 are enacted by ,congress-- 
7#a7 as an exercise of the rulemaking   
power of the ,senate and ,house of      
,representatives1 respectively1 and as  
such are deemed a part of the rules of  
each ,house1 respectively1 but          
applicable only with respect to the     
procedure to be followed in that ,house 
in the case of a joint resolution1 and  
they supersede other rules only to the  
extent that they are inconsistent with  
such rules2 and  7#b7 with full         
recognition of the constitutional right 
of either ,house to change the rules 7so
 far as relating to the procedure of    
that ,house7 at any time1 in the same   
manner1 and to the same extent as in the
 case of any other rule of that ,house4 
7h7 ,debt defined  7#a7 ,in general ,for
 purposes of this section1 the term debt
 means the face amount of obligations   
issued under this chapter and the face  
amount of obligations whose principal   
and interest are guaranteed by the      

,united ,states ,government 7except     
guaranteed obligations held by the      
,secretary of the ,treasury74  7#b7     
,determination of face amount  7,a7 ,in 
general ,for purposes of this section1  
the current redemption value of an      
obligation issued on a discount basis   
and redeemable before maturity at the   
option of its holder is deemed to be the
 face amount of the obligation4  7,b7   
,certain obligations not redeemable     
before maturity ,for purposes of this   
section1 the face amount1 for any month1
 of any obligation issued on a discount 
basis that is not redeemable before     
maturity at the option of the holder of 
the obligation is an amount equal to the
 sum of-- 7i7 the original issue price  
of the obligation1 plus  7ii7 the       
portion of the discount on the          
obligation attributable to periods      
before the beginning of such month 7as  
determined under the principles of      
section #abgb7;a7 of the ,internal      
,revenue ,code of #aihf without regard  

to any exceptions contained in paragraph
 7#b7 of such section74  4  #c4 ,repeal 
of expired provision  7a7 ,repeal       
,section #caja;,a of title #ca1 ,united 
,states ,code1 is repealed4  7b7        
,clerical amendment ,the table of       
sections for subchapter ,i of chapter   
#ca of title #ca1 ,united ,states ,code1
 is amended by striking the item        
relating to section #caja;,a4  #d4      
,technical and conforming amendments    
7a7 ,in general  7#a7 ,section #hcdh of 
title #e1 ,united ,states ,code1 is     
amended by striking subsections 7j71    
7k71 and 7l74  7#b7 ,section #hdch of   
title #e1 ,united ,states ,code1 is     
amended by striking subsections 7g7 and 
7h74  7#c7 ,section #ad7;d77#b77;,a7 of 
the ,federal ,deposit ,insurance ,act   
7#ab ,u4,s4,c4 #ahbd7;d77#b77;,a77 is   
amended-- 7,a7 by striking in section   
#caja7;b7 and inserting under section   
#caja2 and  7,b7 by striking an         
obligation to which such limit applies  
and inserting debt1 as defined in       

subsection 7h7 of such section4  7b7    
,savings provisions ,notwithstanding the
 amendments made by paragraphs 7#a7 and 
7#b7 of subsection 7a7-- 7#a7 paragraphs
 7#b71 7#c71 and 7#d7 of subsection 7j7 
and subsection 7l77#a7 of section #hcdh 
of title #e1 ,united ,states ,code1 as  
in effect on the day before the date of 
enactment of this ,act1 shall apply to  
any debt issuance suspension period 7as 
defined under section #hcdh7;j77#e7 of  
such title7 that is in effect on the    
date of enactment of this ,act2 and     
7#b7 paragraphs 7#b71 7#c71 and 7#d7 of 
subsection 7g7 and subsection 7h77#a7 of
 section #hdch of title #e1 ,united     
,states ,code1 as in effect on the day  
before the date of enactment of this    
,act1 shall apply to any debt issuance  
suspension period 7as defined under     
section #hdch7;g77#f7 of such title7    
that is in effect on the date of        
enactment of this ,act4