S. 57
U.S.A. AAA Credit Restoration Act
Read twice and referred to the Committee on Finance.
Sponsor
Sen. Boxer, Barbara [D-CA]
Bill Details
- Update Date
- Jan 11, 2023
- Origin Chamber
- Senate
- Bill Type
- S
- Bill Number
- 57
- Congress
- 113
- Introduced Date
- Jan 22, 2013
- Policy Area
- Economics and Public Finance
- Is Law
- No
Read twice and referred to the Committee on Finance.
Source: Senate
Introduced in Senate
Source: Library of Congress
U.S.A. AAA Credit Restoration Act - Directs the Secretary of the Treasury, on the same day the President submits an annual budget proposal to Congress, to submit to Congress a message on the public debt limit. Requires the Secretary to: (1) include an estimate of the amount that the public debt limit will need to be increased, if necessary, for the next year based on estimates of federal revenues and mandatory and discretionary expenditures; and (2) publish in the Federal Register the amount of the debt limit necessary to accommodate such requirements.
Allows the proposed debt limit increase to become law unless Congress disapproves.
Sets forth an expedited process for congressional consideration of a joint resolution to disapprove of the Secretary's exercise of authority to increase the debt limit (thereby replacing the current procedure for increasing the debt limit under the congressional budget process).
Finance Committee
Introduced in Senate
Jan 22, 2013