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H.R. 325: No Budget, No Pay Act of 2013
- Introduced:
- Jan 21, 2013 (113th Congress, 2013–2015)
- Sponsor:
- Rep. Dave Camp [R-MI4]
- Status:
- Signed by the President
- Slip Law:
- This bill became Pub.L. 113-3.
The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.
- Full Title
To ensure the complete and timely payment of the obligations of the United States Government until May 19, 2013, and for other purposes.
- Summary
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No summaries available.
- Text
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Last updated Apr 04, 2013.
3 pages
- Primary Source
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View on THOMAS (The Library of Congress)
GovTrack gets most information from THOMAS, which is updated generally one day after events occur. Activity since the last update may not be reflected here.
- Citation
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Library of Congress Summary
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
2/4/2013--Public Law.
No Budget, No Pay Act of 2013 - Suspends through May 18, 2013, the current $16.394 trillion public debt limit.
Makes a special rule relating to obligations issued during the suspension period.
Revises the discretionary increase in the public debt limit by the Secretary of the Treasury, under current law, subject to a congressional resolution of disapproval, upon submission to Congress of required presidential certifications that the debt subject to limit is within $100 billion of the limit and further borrowing is required to meet existing commitments.
Substitutes for this discretionary increase, effective May 19, 2013, an automatic increase in the public debt limit, but only to the extent that:
(1) the face amount of obligations issued and the face amount of obligations whose principal and interest are guaranteed by the federal government (except guaranteed obligations held by the Secretary of the Treasury) outstanding on May 19, 2013, exceeds
(2) the face amount of such obligations outstanding on the date of enactment of this Act. Prohibits an obligation from being taken into account unless its issuance was necessary to fund a commitment incurred by the federal government that required payment before May 19, 2013.
Requires the appropriate payroll administrator of each house of Congress to deposit in an escrow account all mandatory payments for compensation of Members of Congress serving in that house if by April 15, 2013, that house has not agreed to a concurrent budget resolution for FY2014. Requires release to those Members of such payments after April 16, 2013, only upon the earlier of:
(1) the day on which that house agrees to a concurrent budget resolution for FY2014, or
(2) the last day of the 113th Congress.
House Republican Conference Summary
The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.
This summary can be found at http://www.gop.gov/bill/113/1/hr325.
Background
Debt Limit and the Budget Control Act of 2011
Since 1940, the debt limit has been raised a total of 92 times. Most recently, the limit was raised as part of the Budget Control Act of 2011. Congress authorized an increase in the debt ceiling totaling at least $2.1 trillion in three phases: immediately upon certification by the President on August 2, 2011; later in September 2011; and again in January 2012. At the end of 2012, the Department of Treasury reached its authorized limit of $16.4 trillion. Since that time, Treasury has been utilizing “extraordinary measures” to pay our nation’s obligations. The extraordinary measures are expected to be depleted sometime between mid February and early March.
Why a Temporary Increase in the Debt Limit Matters
The temporary increase in the debt limit is part of House Republican efforts to frame the debate on the three fiscal deadlines that will be occurring within the next 90 days. In addition to reaching the $16.4 trillion debt limit next month, the sequestration authorized by the Budget Control Act of 2011, and delayed by the American Taxpayer Relief Act, takes effect on March 1, 2013. Finally, the current continuing resolution expires on March 27, 2013.
H.R. 325 accomplishes this goal by pushing the long term debt ceiling debate until later this spring and allowing the House to focus on the next two fiscal-related dates. Moreover, by tying the debt ceiling increase to the passage of a FY 2014 budget resolution, the House is able to focus on the importance of a budget resolution in setting the priorities for spending, revenue, and the debt both in the near and long term. The Congressional Budget Act of 1974 requires both the House and the Senate to pass a budget resolution, which the Senate has failed to do since April 29, 2009.
Summary
The purpose of H.R. 325 is to allow the Department of Treasury to borrow to meet the obligations of the United States that require payment from the date of enactment through May 18, 2013. H.R. 325 accomplishes this by suspending the debt limit through May 18, 2013. At the end of the period, the aggregate debt limit will be amended and replaced with the amount borrowed. The bill also requires the passage of a FY 2014 budget resolution by the House and Senate. In the event that a budget resolution is not agreed to by April 15, 2013, the salaries that would have otherwise been paid to the Members of the chamber failing to agree to a budget resolution will be placed in escrow. Withheld funds will be released when a budget is adopted or the last day of the 113th Congress.
Cost
No cost estimate is available at this time.
House Democratic Caucus Summary
The House Democratic Caucus does not provide summaries of bills.
So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.
We’ll be looking for a source of summaries from the other side in the meanwhile.
The bill contains the following citations to other parts of U.S. law:
United States Code
The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)
- Title 31: MONEY AND FINANCE
- Subtitle III: FINANCIAL MANAGEMENT
- Chapter 31: PUBLIC DEBT
- Subchapter I: BORROWING AUTHORITY
- Section 3101: Public debt limit