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H.R. 5083: Debt Ceiling Alternative Act

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To provide that, in the event that the Secretary of the Treasury estimates that the debt ceiling will be reached, the Secretary is required to issue GDP-linked bonds to pay the principal and interest on the public debt and the President is authorized to request the rescission of certain unobligated balances and sell certain mortgage-related assets, and for other purposes.

The bill’s titles are written by its sponsor.

Sponsor and status

David Schweikert

Sponsor. Representative for Arizona's 6th congressional district. Republican.

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Last Updated: Nov 14, 2019
Length: 5 pages
Introduced
Nov 14, 2019
Status

Introduced on Nov 14, 2019

This bill is in the first stage of the legislative process. It was introduced into Congress on November 14, 2019. It will typically be considered by committee next before it is possibly sent on to the House or Senate as a whole.

Prognosis
2% chance of being enacted according to Skopos Labs (details)
Source

History

Nov 14, 2019
 
Introduced

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

If this bill has further action, the following steps may occur next:
 
Passed Committee

 
Passed House

 
Passed Senate

 
Signed by the President

H.R. 5083 is a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

How to cite this information.

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“H.R. 5083 — 116th Congress: Debt Ceiling Alternative Act.” www.GovTrack.us. 2019. February 27, 2020 <https://www.govtrack.us/congress/bills/116/hr5083>

Where is this information from?

GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.