{ "id": "RS21519", "type": "CRS Report", "typeId": "REPORTS", "number": "RS21519", "active": true, "source": "EveryCRSReport.com, University of North Texas Libraries Government Documents Department", "versions": [ { "source": "EveryCRSReport.com", "id": 588668, "date": "2016-05-06", "retrieved": "2020-01-02T15:50:03.187246", "title": "Legislative Procedures for Adjusting the Public Debt Limit: A Brief Overview", "summary": "Nearly all of the outstanding debt of the federal government is subject to a statutory limit, which is set forth as a dollar limitation in 31 U.S.C. 3101(b). From time to time, Congress considers and passes legislation to adjust or suspend this limit.\nThe annual budget resolution is required to include appropriate levels of the public debt for each fiscal year covered by the resolution. The budget resolution, however, does not become law. Therefore, the enactment of subsequent legislation is necessary in order to implement budget resolution policies, including changes to the statutory limit on the public debt. In addition, Congress may consider adjustments to the public debt limit outside the context of the budget resolution, such as when the House and Senate are unable to agree on a budget resolution or when the current debt limit is not sufficient to meet existing financial obligations.\nUnder current legislative procedures, the House and Senate may originate and consider legislation adjusting the debt limit in several different ways. They may consider such legislation under regular legislative procedures, either as freestanding legislation or as a part of a measure dealing with other topics. Alternatively, they may change the debt limit as part of the budget reconciliation process provided for under the Congressional Budget Act of 1974. The House also has originated debt limit legislation under its former House Rule XXVIII (the so-called \u201cGephardt rule\u201d); the House repealed the rule at the beginning of the 112th Congress (2011-2012). In addition, Congress has twice established special procedures for congressional disapproval of adjustments to the debt limit authorized by certain statutes.\nDuring the period from 1940 to the present, Congress and the President have enacted a total of 96 measures adjusting the public debt limit\u201477 under regular legislative procedures in both chambers, 15 under the Gephardt rule, and 4 under reconciliation procedures.\nThis report will be updated as developments warrant.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/RS21519", "sha1": "6589b73b1b132afa576b79fbca20dc3510384060", "filename": "files/20160506_RS21519_6589b73b1b132afa576b79fbca20dc3510384060.html", "images": { "/products/Getimages/?directory=RS/html/RS21519_files&id=/0.png": "files/20160506_RS21519_images_962a2d630098f6613ec0d61b3b43f91bcf80140f.png" } }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/RS21519", "sha1": "de7b7369b6dd57cc16f6b9b6f1da2479c68401bf", "filename": "files/20160506_RS21519_de7b7369b6dd57cc16f6b9b6f1da2479c68401bf.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4892, "name": "Fiscal Policy & the Budget" }, { "source": "IBCList", "id": 4900, "name": "Budget & Appropriations Procedure" } ] }, { "source": "EveryCRSReport.com", "id": 443684, "date": "2015-08-06", "retrieved": "2016-04-06T18:39:13.931195", "title": "Legislative Procedures for Adjusting the Public Debt Limit: A Brief Overview", "summary": "Nearly all of the outstanding debt of the federal government is subject to a statutory limit, which is set forth as a dollar limitation in 31 U.S.C. 3101(b). From time to time, Congress considers and passes legislation to adjust or suspend this limit.\nThe annual budget resolution is required to include appropriate levels of the public debt for each fiscal year covered by the resolution. The budget resolution, however, does not become law. Therefore, the enactment of subsequent legislation is necessary in order to implement budget resolution policies, including changes to the statutory limit on the public debt. In addition, Congress may consider adjustments to the public debt limit outside the context of the budget resolution, such as when the House and Senate are unable to agree on a budget resolution or when the current debt limit is not sufficient to meet existing financial obligations.\nUnder current legislative procedures, the House and Senate may originate and consider legislation adjusting the debt limit in several different ways. They may consider such legislation under regular legislative procedures, either as freestanding legislation or as a part of a measure dealing with other topics. Alternatively, they may change the debt limit as part of the budget reconciliation process provided for under the Congressional Budget Act of 1974. The House also has originated debt limit legislation under its former House Rule XXVIII (the so-called \u201cGephardt rule\u201d); the House repealed the rule at the beginning of the 112th Congress (2011-2012). In addition, Congress has twice established special procedures for congressional disapproval of adjustments to the debt limit authorized by certain statutes.\nDuring the period from 1940 to the present, Congress and the President have enacted a total of 95 measures adjusting the public debt limit\u201476 under regular legislative procedures in both chambers, 15 under the Gephardt rule, and four under reconciliation procedures.\nThis report will be updated as developments warrant.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/RS21519", "sha1": "21ce02d6c98f0215c46565d1431a661088b1ca44", "filename": "files/20150806_RS21519_21ce02d6c98f0215c46565d1431a661088b1ca44.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/RS21519", "sha1": "404f6283d6873f2a42304cbe7602b5fa7f34c832", "filename": "files/20150806_RS21519_404f6283d6873f2a42304cbe7602b5fa7f34c832.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 4514, "name": "Fiscal Policy Considerations" }, { "source": "CongOpsList", "id": 4150, "name": "Revenue and Debt-Limit Processes" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc821808/", "id": "RS21519_2012Nov26", "date": "2012-11-26", "retrieved": "2016-03-19T13:57:26", "title": "Legislative Procedures for Adjusting the Public Debt Limit: A Brief Overview", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20121126_RS21519_6eecd04043477be2ae521292d17c59b5c9e50581.pdf" }, { "format": "HTML", "filename": "files/20121126_RS21519_6eecd04043477be2ae521292d17c59b5c9e50581.html" } ], "topics": [] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc40254/", "id": "RS21519_2011May2", "date": "2011-05-02", "retrieved": "2011-08-27T10:13:38", "title": "Legislative Procedures for Adjusting the Public Debt Limit: A Brief Overview", "summary": "Almost all borrowing by the federal government is conducted by the Treasury Department, within the restrictions established by a single, statutory limit on the total amount of debt that may be outstanding at any time.1 In a few instances, agencies such as the Tennessee Valley Authority operate within their own borrowing limits established separately in law. For years, the public debt limit has been codified in Section 3101(b) of Title 31, United States Code. Periodic adjustments in the debt limit take the form of amendments to 31 U.S.C. 3101(b), usually by striking the current dollar limitation and inserting a new one. In the past, such changes to the debt limit have been either permanent or temporary.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20110502_RS21519_b1e0c2f501a8d45be46dc63a6654e6836ed520ea.pdf" }, { "format": "HTML", "filename": "files/20110502_RS21519_b1e0c2f501a8d45be46dc63a6654e6836ed520ea.html" } ], "topics": [ { "source": "LIV", "id": "Budgets", "name": "Budgets" }, { "source": "LIV", "id": "Senate rules and procedure", "name": "Senate rules and procedure" }, { "source": "LIV", "id": "House rules and procedure", "name": "House rules and procedure" }, { "source": "LIV", "id": "Public debt", "name": "Public debt" }, { "source": "LIV", "id": "Congress", "name": "Congress" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc821729/", "id": "RS21519_2008Nov24", "date": "2008-11-24", "retrieved": "2016-03-19T13:57:26", "title": "Legislative Procedures for Adjusting the Public Debt Limit: A Brief Overview", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20081124_RS21519_9b0c35815320f652a1399891c7c4ea2075166c7b.pdf" }, { "format": "HTML", "filename": "files/20081124_RS21519_9b0c35815320f652a1399891c7c4ea2075166c7b.html" } ], "topics": [] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metacrs7625/", "id": "RS21519 2005-02-11", "date": "2005-02-11", "retrieved": "2005-11-02T15:01:02", "title": "Legislative Procedures for Adjusting the Public Debt Limit: A Brief Overview", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20050211_RS21519_1cb02e6bdf72a7a35344f89f8d5312479e4df6b6.pdf" }, { "format": "HTML", "filename": "files/20050211_RS21519_1cb02e6bdf72a7a35344f89f8d5312479e4df6b6.html" } ], "topics": [ { "source": "LIV", "id": "Budgets", "name": "Budgets" }, { "source": "LIV", "id": "Senate rules and procedure", "name": "Senate rules and procedure" }, { "source": "LIV", "id": "House rules and procedure", "name": "House rules and procedure" }, { "source": "LIV", "id": "Public debt", "name": "Public debt" }, { "source": "LIV", "id": "Congress", "name": "Congress" } ] } ], "topics": [ "American Law", "Legislative Process" ] }