,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #djb  ,,in ,,the ,,house ,,of   
,,representatives  ,january #ad1        
#bjbe,mr4 ,schweikert introduced the    
following bill2 which was referred to   
the ,committee on ,ways and ,means  ,a  
,,bill  ,to amend title #ca1 ,united    
,states ,code1 to require the ,secretary
 of the ,treasury to appear before      
,congress before the debt limit is      
reached or extraordinary measures are   
taken to prevent default4  #a4 ,short   
title ,this ,act may be cited as the    
,debt ,explanation ,before ,taxwriters  
,act or the ,,debt ,act4  #b4 ,secretary
 of ,treasury appearance before         
,congress before reaching debt limit or 
extraordinary measures taken  7a7 ,in   
general ,subchapter ,,ii of chapter #ca 
of title #ca1 ,united ,states ,code1 is 
amended by adding at the end the        
following3  #caca4 ,secretary of        
,treasury appearance before ,congress   
before reaching debt limit or           
extraordinary measures taken  7a7 ,in   

general ,not more than sixty days and   
not less than twenty-one days prior to  
any date on which the ,secretary of the 
,treasury anticipates either that the   
public debt will reach the limit        
specified under section #caja1 as       
modified by section #caja;,a1 or that   
extraordinary measures will be taken to 
prevent the ,united ,states from        
defaulting on its obligations1 the      
,secretary shall appear before the      
,committee on ,ways and ,means of the   
,house of ,representatives and the      
,committee on ,finance of the ,senate1  
to submit a detailed explanation of--   
7#a7 any extraordinary measures the     
,secretary will take to fund ,federal   
government obligations prior to such    
increase and an estimate of the         
administrative cost of taking such      
extraordinary measures2 and  7#b7 any   
reversal of such measures1 and any other
 changes taken in the funding of        
,federal government obligations1 as a   
result of such increase4  7b7           

,extraordinary measures defined ,for    
purposes of this section1 the term      
extraordinary measures means each of the
 following3 7#a7 ,suspending sales of   
,state and ,local ,government ,series   
,treasury securities4  7#b7 ,redeeming  
existing1 and suspending new1           
investments of the ,civil ,service      
,retirement and ,disability ,fund and   
the ,postal ,service ,retiree ,health   
,benefits ,fund4  7#c7 ,suspending      
reinvestment of the ,government         
,securities ,investment ,fund4  7#d7    
,suspending reinvestment of the         
,exchange ,stabilization ,fund4  7#e7   
,directing or approving the issuance of 
debt by the ,federal ,financing ,bank   
for the purpose of entering into an     
exchange transaction for debt that is   
subject to the limit under this section4
  7#f7 ,suspending investments in the   
,government ,securities ,investment     
,fund of the ,thrift ,savings ,fund4    
7#g7 ,suspending investments in the     
stabilization fund established under    

section #ecjb of title #ca1 ,united     
,states ,code4  7#h7 ,suspending new    
investments in the ,civil ,service      
,retirement and ,disability ,fund or the
 ,postal ,service ,retiree ,health      
,benefits ,fund4  7#i7 ,selling or      
redeeming securities1 obligations1 or   
other invested assets of the ,civil     
,service ,retirement and ,disability    
,fund or the ,postal ,service ,retiree  
,health ,benefits ,fund before maturity4
  4  7b7 ,clerical amendment ,the table 
of analysis for chapter #ca of title    
#ca1 ,united ,states ,code1 is amended  
by inserting after the item relating to 
section #cacj the following3  #caca4    
,secretary of ,treasury appearance      
before ,congress before reaching debt   
limit or extraordinary measures taken4  
4