To provide for a temporary increase in the public debt limit, and for other purposes.

Summary

(Sec. 1) Increases the public debt limit to $4.95 trillion through December 12, 1995, and decreases it to $4.8 trillion thereafter. (Sec. 2) Prohibits any Government officer or employee, in order to not increase or to reduce the amount of outstanding public debt obligations, from: (1) delaying any deposit or credit of any amount to any Federal fund; (2) refraining from investing any Federal fund amounts in public debt obligations; or (3) disinvesting Federal fund amounts from public debt obligations. Permits the Secretary of the Treasury, with three days' notice to the Congress and the Comptroller General, to sell or redeem public debt obligations held by a covered benefits fund in order to make payment of cash benefits or administrative expenses not otherwise payable by reason of an inability to issue further public debt obligations because of the public debt limit (to the extent cash assets of such fund are not available from month to month for such payments). Authorizes the Secretary to issue corresponding public debt obligations to obtain the cash necessary for such purpose, notwithstanding the public debt limit. (Sec. 3) Repeals specified Federal provisions relating to management of the Civil Service Retirement and Disability Fund and the Thrift Savings Fund during periods of debt limitation.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 7 November 1995

   Calendars

   Placed on the Union Calendar, Calendar No. 176.

   Source: Calendars

2. 7 November 1995

   Reported

   Reported (Amended) by the Committee on Ways and Means. H. Rept. 104-325.

   Source: Committee

3. 7 November 1995

   Reported

   Reported (Amended) by the Committee on Ways and Means. H. Rept. 104-325.

   Source: Committee

4. 7 November 1995

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

5. 7 November 1995

   Vote

   Ordered to be Reported (Amended) by the Yeas and Nays: 21 - 13.

   Source: Committee

6. 7 November 1995

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

7. 7 November 1995

   Introduced

   Introduced in House

   Source: IntroReferral

8. 7 November 1995

   Introduced

   Introduced in House

   Source: IntroReferral

9. 8 November 1995

   Reported

   Rules Committee Resolution H. Res. 258 Reported to House. Rule provides for consideration of H.R. 2586. Upon adoption of this resolution, it shall be in order without intervention of any point of order to consider the bill in the House. The amendment recommended by the Committee on Ways and Means now printed in the bill, and the amendments specified in the report accompanying this resolution shall be considered as adopted. Specified amendments are in order. The previous question shall be considered as ordered on the bill, as amended, and any amendments thereto to final passage without intervening motion except: 1. one hour of debate on the bill; 2. one motion to amend by the chairman of Ways and Means, debatable for 20 minutes; 3. one motion to amend by Representative Walker, without intervention of any point of order, debatable for 40 minutes; and 4. one motion to recommit, if offered by the Minority Leader or his designee.

   Source: Floor

10. 9 November 1995

    Vote

    Passed/agreed to in Senate: Passed Senate with an amendment by Yea-Nay Vote. 49-47. Record Vote No: 569.

    Source: Floor

11. 9 November 1995

    Floor

    Measure laid before Senate. (consideration: CR S16892-16913)

    Source: Floor

12. 9 November 1995

    Introduced

    Received in the Senate, read twice.

    Source: IntroReferral

13. 9 November 1995

    Reported

    Rules Committee Resolution H. Res. 262 Reported to House. Rule provides for consideration of H.R. 2586 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit. Upon adoption of this resolution, it shall be in order without intervention of any point of order to take the bill from the Speaker's table, with any Senate amendments thereto, and to consider in the House a motion offered by Majority Leader or his designee to dispose of all Senate amendments.

    Source: Floor

14. 9 November 1995

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

15. 9 November 1995

    Vote

    On passage Passed by recorded vote: 227 - 194 (Roll no. 781).

    Source: Floor

16. 9 November 1995

    Vote

    Passed/agreed to in House: On passage Passed by recorded vote: 227 - 194 (Roll no. 781).

    Source: Floor

17. 9 November 1995

    Vote

    On motion to recommit with instructions Failed by the Yeas and Nays: 186 - 235 (Roll no. 780). (consideration: CR H12064)

    Source: Floor

18. 9 November 1995

    Floor

    The previous question on the motion to recommit with instructions was ordered pursuant to the rule.

    Source: Floor

19. 9 November 1995

    Floor

    Mr. Payne (VA) moved to recommit with instructions to Ways and Means.

    Source: Floor

20. 9 November 1995

    Floor

    The previous question was ordered pursuant to the rule.

    Source: Floor

21. 9 November 1995

    Floor

    Rule provides for consideration of H.R. 2586. Upon adoption of this resolution, it shall be in order without intervention of any point of order to consider the bill in the House. The amendment recommended by the Committee on Ways and Means now printed in the bill, and the amendments specified in the report accompanying this resolution shall be considered as adopted. Specified amendments are in order. The previous question shall be considered as ordered on the bill, as amended, and any amendments thereto to final passage without intervening motion except: 1. one hour of debate on the bill; 2. one motion to amend by the Chairman of Ways and Means, debatable for 20 minutes; 3. one motion to amend by Representative Walker, without intervention of any point of order, debatable for 40 minutes; and 4. one motion to recommit, if offered by the Minority Leader or his designee.

    Source: Floor

22. 9 November 1995

    Floor

    Considered under the provisions of rule H. Res. 258. (consideration: CR H12007-12064)

    Source: Floor

23. 9 November 1995

    Passed

    Rule H. Res. 258 passed House.

    Source: Floor

24. 10 November 1995

    Passed

    Rule H. Res. 262 passed House.

    Source: Floor

25. 10 November 1995

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: ResolvingDifferences

26. 10 November 1995

    Vote

    On motion that the House agree to the Senate amendment Agreed to by the Yeas and Nays: 219 - 185 (Roll no. 785). (consideration: CR H12113)

    Source: ResolvingDifferences

27. 10 November 1995

    Vote

    Resolving differences -- House actions: On motion that the House agree to the Senate amendment Agreed to by the Yeas and Nays: 219 - 185 (Roll no. 785).(consideration: CR H12113)

    Source: NotUsed

28. 10 November 1995

    ResolvingDifferences

    The previous question was ordered pursuant to the rule.

    Source: ResolvingDifferences

29. 10 November 1995

    Passed

    DEBATE - Pursuant to the provisions of H. Res. 262, the House proceeded with one hour of debate on the Archer motion to agree to the Senate amendment, which strikes the House-passed language providing for the elimination of the Commerce Department.

    Source: Floor

30. 10 November 1995

    ResolvingDifferences

    Pursuant to the provisions of H. Res. 262, the House moved to agree to the Senate amendment.

    Source: ResolvingDifferences

31. 10 November 1995

    Floor

    Message on Senate action sent to the House.

    Source: Floor

32. 12 November 1995

    Floor

    Presented to President.

    Source: Floor

33. 12 November 1995

    President

    Presented to President.

    Source: President

34. 13 November 1995

    Floor

    The Chair announced that the objections of the President would be spread at large upon the Journal, and the veto message and the bill would be printed as a House Document.

    Source: Floor

35. 13 November 1995

    Veto

    Mr. Archer moved to postpone consideration of the veto message until Dec. 12.

    Source: Veto

36. 13 November 1995

    Veto

    The Chair laid before the House the veto message from the President.

    Source: Veto

37. 13 November 1995

    Vote

    On motion to postpone consideration of the veto message Agreed to by the Yeas and Nays: 223 - 184 (Roll no. 788). (consideration: CR H12151-12155)

    Source: Veto

38. 13 November 1995

    Floor

    The previous question on the motion to postpone consideration of the veto message was ordered without objection.

    Source: Floor

39. 13 November 1995

    President

    Vetoed by President. (consideration: CR H12150)

    Source: President

40. 13 November 1995

    President

    Vetoed by President.(consideration: CR H12150)

    Source: President

41. 7 December 1995

    Passed

    On motion to refer the bill and the accompanying veto message to the Committee on Ways and Means. Agreed to without objection.

    Source: Veto

42. 7 December 1995

    Veto

    Mr. Archer moved to refer the bill and accompanying veto message to the Committee on Ways and Means.

    Source: Veto

Votes

Versions

• Enrolled Bill · — · Download file
• Engrossed Amendment Senate · 9 November 1995 · Download file
• Received in Senate · 9 November 1995 · Download file
• Engrossed in House · 9 November 1995 · Download file
• Reported in House · 7 November 1995 · Download file
• Introduced in House · 7 November 1995 · Download file

Documents

14 official files

• Enrolled Bill (text)

  Enrolled Bill · EN

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• Received in Senate (text)

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• Received in Senate (PDF)

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• Engrossed Amendment Senate (text)

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• Passed Senate amended

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• Introduced in House (text)

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Sponsors

• Rep. Archer, Bill [R-TX-7] · R · Sponsor
• · hswm00 · Standing

Related records

• related to → Providing for consideration of the bill (H.R. 2586) to provide for a temporary increase in the public debt limit, and for other purposes.
• related to → Providing for the consideration of Senate amendments to the bill (H.R. 2586) to provide for a temporary increase in the public debt limit, and for other purposes.
• amends ← To provide for a temporary increase in the public debt limit.
• amends ← To preserve the Department of Commerce.
• amends ← An amendment, consisting of four amendments (considered as having been adopted pursuant to the provisions of H.Res. 258) to do the following: 1. Commit the President and Congress to enact legislation this year to achieve a balanced budget by FY 2022, and affirm that it is the intent of Congress to not enact any further debt limit increase until such legislation is signed; 2. provide Medicare coverage for certain anti-cancer drugs; 3. agree to the text of the Senate-passed habeas corpus reform provisions of S. 735; 4. agree to compromise language on the House-passed provisions of reconciliation legislation which dismantle the Department of Commerce.
• amends ← An amendment to add to the bill a compromise version of the House and Senate "Comprehensive Regulatory Reform" bills. The amendment would require all Federal agencies to conduct impact assessments and cost-benefit analysis of proposed regulations that would have an annual economic impact of more than $50 million, affect employment, investment, productivity, or the ability of firms to compete globally. The amendment would require the EPA, FDA, OSHA, the Departments of Transportation, Energy, Interior, and Agriculture to prepare detailed analyses of costs and benefits associated rules relating to risk reduction.