H.R. 355: To increase the statutory limit on the public debt only upon the certification by the President of the ...

...submission to the States for their ratification of the proposed amendment to the Constitution of the United States to balance the Federal Budg

113th Congress, 2013–2015. Text as of Jan 23, 2013 (Introduced).

Status & Summary | PDF | Source: GPO and Cato Institute Deepbills

I

113th CONGRESS

1st Session

H. R. 355

IN THE HOUSE OF REPRESENTATIVES

January 23, 2013

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

A BILL

To increase the statutory limit on the public debt only upon the certification by the President of the submission to the States for their ratification of the proposed amendment to the Constitution of the United States to balance the Federal Budget or limit Federal spending.

1.

Public debt limit extension

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 $16,994,000,000,000 upon the certification by the President of the submission to the States for their ratification of the proposed amendment to the Constitution of the United States described in section 2.

2.

Effective date

The amendment made by section 1 shall not take effect unless and until the date upon which the President certifies the Archivist of the United States has submitted to the States for their ratification a proposed amendment to the Constitution of the United States pursuant to a joint resolution entitled Joint resolution proposing a balanced budget amendment to the Constitution of the United States, Joint resolution proposing a spending limit amendment to the Constitution of the United States, or Joint resolution proposing an amendment to the Constitution of the United States to restrict the power of Congress to enact legislation increasing any amount spent under entitlement programs or creating new entitlement programs.