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S. 1301: [Increase of Public Debt Limit]


About the bill

On September 29, 2021, this bill became a House proposal to temporarily suspend the public debt limit through December 16, 2022. The Senate amended the bill on October 7, 2021 to be an increase in the public debt limit in an amount, $480 billion, that was projected by the Treasury Department to be the amount of debt needed through early December 2021 to not reach the public debt limit.

The Treasury Department had forecast that the federal government would hit the debt limit, i.e. run out of money to pay back existing debts, government salaries, and other pre-existing obligations, on October 18, 2021, creating the potential for a severe economic crisis. Failure to pay back existing debts risked a global loss of confidence in the U.S. economy and hampering the …

Sponsor and status

Introduced
117th Congress (2021–2023)
Status

Enacted — Signed by the President on Oct 14, 2021

This bill was enacted after being signed by the President on October 14, 2021.

Law
Pub.L. 117-50
Sponsor

Sherrod Brown was the sponsor of this bill when it was introduced on Apr 22, 2021, but the bill’s text was subsequently replaced with unrelated provisions.

Text

Read Text »
Last Updated: Oct 13, 2021
Length: 1 page

Cosponsors

2 Cosponsors (2 Republicans)

Source

History

Apr 22, 2021
 
Introduced

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

May 25, 2021
 
Ordered Reported

A committee has voted to issue a report to the full chamber recommending that the bill be considered further. Only about 1 in 4 bills are reported out of committee.

Jul 30, 2021
 
Passed Senate (House next)

The bill was passed in a vote in the Senate. It goes to the House next. The vote was by Voice Vote so no record of individual votes was made.

Sep 28, 2021
 
Text Published

Updated bill text was published as of Preprint (Rule).

Sep 29, 2021
 
Passed House

The bill was passed by both chambers in identical form. It goes to the President next who may sign or veto the bill.

Sep 29, 2021
 
Text Published

Updated bill text was published as of Passed the House with an Amendment.

Oct 7, 2021
 
Passed Senate with Changes (back to House)

The Senate passed the bill with changes not in the House version and sent it back to the House to approve the changes.

This was a vote on the Senate proposal to increase the public debt limit in an amount, $480 billion, that was projected by the Treasury Department to be the amount …

Oct 14, 2021
 
Enacted — Signed by the President

The President signed the bill and it became law.

S. 1301 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.

Bills numbers restart every two years. That means there are other bills with the number S. 1301. This is the one from the 117th Congress.

How to cite this information.

We recommend the following MLA-formatted citation when using the information you see here in academic work:

“S. 1301 — 117th Congress: [Increase of Public Debt Limit].” www.GovTrack.us. 2021. August 9, 2022 <https://www.govtrack.us/congress/bills/117/s1301>

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.