PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Ways and Means.
Congressional Research Service
Version 00 · Introduced in House · Jul 14, 2023
This bill requires the Department of the Treasury to issue a report when it uses extraordinary measures to meet federal funding obligations without issuing additional Treasury securities.
(The term extraordinary measures generally refers to actions that Treasury may implement to allow the United States to borrow additional funds without exceeding the statutory debt limit. The measures generally include suspensions or delays of debt sales and suspensions or redemptions of investments in certain government funds.)
The bill requires Treasury to issue the report to the voting members of the Financial Stability Oversight Council, the Office of Financial Research, the House Committee on Financial Services, and the Senate Committee on Banking, Housing, and Urban Affairs upon notifying Congress that it has begun using extraordinary measures. The report must include
Showing the opening paragraphs of the official summary.
a list of available extraordinary measures, stated as a dollar amount;
a projection of the headroom under the debt limit (i.e., the difference between the current debt limit and the projected operating cash balance of the Treasury) afforded by each extraordinary measure;
a projection of the date on which all available headroom afforded by the use of extraordinary measures will be exhausted, the Treasury will have an operating cash balance at or below $50 billion, the debt will be within $50 billion of reaching the limit, and Treasury will be unable to make timely payments on the debt; and
an attestation by the Secretary of the Treasury as to whether the debt approaching the limit is an emerging threat to U.S. financial stability.
People & committees
Rep. Loudermilk, Barry [R-GA-11] · R–GA
Legislative record
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Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 15, 2025. Consult Congress.gov for the current record.
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