PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Civil Service.
Congressional Research Service
Version 00 · Introduced in House · Jan 25, 1996
Amends Federal law to increase the public debt limit to $4.92 trillion. Prohibits any U.S. officer or employee from delaying a deposit or credit to, or refraining from investment in public debt obligations in, any Federal fund if the purpose is to reduce or not increase public debt. Allows, notwithstanding the public debt limit, the sale or redemption of public debt obligations held by a covered benefits fund in order to get the cash necessary for payment of benefits or administrative expenses. Prohibits issuance, after December 31, 2001, of public debt obligations subject to limitation under specified provisions of Federal law. Declares that the prohibition does not apply to any obligations issued to refund an obligation issued before January 1, 2002. Authorizes the Secretary of the Treasury, when the Government is unable to borrow sufficient funds because of the public debt limit, to manage the U.S. cash position under the priorities established by the President for making payments. Prohibits any U.S. officer or employee from selling any U.S. property if the primary purpose of the sale is to avoid the public debt limit.
People & committees
Rep. Smith, Nick [R-MI-7] · R–MI
Legislative record
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Referred to the Subcommittee on Civil Service.
Referred to the Committee on Ways and Means, and in addition to the Committee on Government Reform and Oversight, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on Government Reform and Oversight, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on Government Reform and Oversight, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Feb 4, 2025. Consult Congress.gov for the current record.
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Analyze H.R.2897 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine H.R.2897 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine H.R.2897 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
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