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United States · Bill · HR

H.R. 2586 (104th)

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

passedUnited States· United States Congress· EN

Introduced

7 November 1995

Last action

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Status

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

Sponsors

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Subjects

Discovery layer

Source updated

7 April 2025

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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.

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Documents

14 official files

Enrolled Bill (text)

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Sources

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