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To require the Secretary of the Treasury to issue reports with respect to extraordinary measures, and for other purposes.

USA115th CongressHR-3498| House 
| Updated: 7/27/2017
Luke Messer

Luke Messer

Republican Representative

Indiana

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Extraordinary Measures Transparency Act This bill requires the Department of the Treasury to report to Congress regarding extraordinary measures used to avoid exceeding the statutory debt limit. Extraordinary measures include suspensions and delays of debt sales and auctions, suspending or redeeming investments in certain government funds, and issuing debt to enter into an exchange transaction for debt that is subject to the limit. If Treasury determines that the public debt will reach the limit in 30 days, Treasury must submit a report to Congress that includes: a description of the extraordinary measures that Treasury intends to use if the debt limit is not raised, an estimate of the cost of the measures, a projection of how long the measures will fund the federal government, and a projection of the administrative cost of taking the measures. Treasury must also submit specified daily reports to Congress when the measures are being used. After using the measures, Treasury must report to Congress regarding the measures that were used and the administrative cost of the measures.
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Timeline
Jul 27, 2017
Introduced in House
Jul 27, 2017
Referred to the House Committee on Ways and Means.
  • July 27, 2017
    Introduced in House


  • July 27, 2017
    Referred to the House Committee on Ways and Means.

Economics and Public Finance

Budget deficits and national debtCongressional oversightGovernment employee pay, benefits, personnel managementGovernment trust fundsHealth care costs and insuranceSecuritiesU.S. Postal Service

To require the Secretary of the Treasury to issue reports with respect to extraordinary measures, and for other purposes.

USA115th CongressHR-3498| House 
| Updated: 7/27/2017
Extraordinary Measures Transparency Act This bill requires the Department of the Treasury to report to Congress regarding extraordinary measures used to avoid exceeding the statutory debt limit. Extraordinary measures include suspensions and delays of debt sales and auctions, suspending or redeeming investments in certain government funds, and issuing debt to enter into an exchange transaction for debt that is subject to the limit. If Treasury determines that the public debt will reach the limit in 30 days, Treasury must submit a report to Congress that includes: a description of the extraordinary measures that Treasury intends to use if the debt limit is not raised, an estimate of the cost of the measures, a projection of how long the measures will fund the federal government, and a projection of the administrative cost of taking the measures. Treasury must also submit specified daily reports to Congress when the measures are being used. After using the measures, Treasury must report to Congress regarding the measures that were used and the administrative cost of the measures.
View Full Text

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Timeline
Jul 27, 2017
Introduced in House
Jul 27, 2017
Referred to the House Committee on Ways and Means.
  • July 27, 2017
    Introduced in House


  • July 27, 2017
    Referred to the House Committee on Ways and Means.
Luke Messer

Luke Messer

Republican Representative

Indiana

Ways and Means Committee

Economics and Public Finance

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Budget deficits and national debtCongressional oversightGovernment employee pay, benefits, personnel managementGovernment trust fundsHealth care costs and insuranceSecuritiesU.S. Postal Service