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H.R. 1954 (112th): To implement the President’s request to increase the statutory limit on the public debt.

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The text of the bill below is as of May 24, 2011 (Introduced).

I

112th CONGRESS

1st Session

H. R. 1954

IN THE HOUSE OF REPRESENTATIVES

May 24, 2011

introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To implement the President’s request to increase the statutory limit on the public debt.

1.

Finding

The Congress finds that the President’s budget proposal, Budget of the United States Government, Fiscal Year 2012, necessitates an increase in the statutory debt limit of $2,406,000,000,000.

2.

Increase in statutory limit on the public debt

Subsection (b) of section 3101 of title 31, United States Code, is amended by striking out the dollar limitation contained in such subsection and inserting in lieu thereof $16,700,000,000,000.