Terms of Credit Act

Summary

Terms of Credit Act This bill establishes expedited legislative procedures for spending reduction legislation, limits regulatory activity, and increases the debt limit. Eleven House committees must submit to the House Budget Committee legislation to reduce direct spending by specified amounts, and Congress must consider the legislation using expedited procedures. The bill restricts legislative activities and adjournment of the House until the spending reduction legislation and appropriations legislation is passed. Congress must vote on a balanced budget amendment to the U.S. Constitution by December 31, 2015. Regulatory Freeze for Jobs Act of 2015 Until July 1, 2017, the bill imposes a moratorium on significant regulatory actions that are likely to result in an annual cost to the economy of at least $50 million or adversely affect the economy or a sector of the economy, productivity, competition, jobs, the environment, public health or safety, small entities, or state, local, or tribal governments or communities. Midnight Rule Relief Act of 2015 Agencies may not propose or finalize certain rules during the final months of a President's term. The bill includes an exception for repealing existing regulations and permits waivers for specified regulations. The bill also increases the debt limit to $19.6 trillion. (Under current law the debt limit is suspended through March 15, 2017, and will be increased on March 16, 2017, to accommodate obligations issued during the suspension period.)

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

Timeline

1. 20 October 2015

   Introduced

   Referred to the Committee on Rules, and in addition to the Committees on Oversight and Government Reform, the Judiciary, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 20 October 2015

   Introduced

   Referred to the Committee on Rules, and in addition to the Committees on Oversight and Government Reform, the Judiciary, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

3. 20 October 2015

   Introduced

   Introduced in House

   Source: IntroReferral

4. 20 October 2015

   Introduced

   Introduced in House

   Source: IntroReferral

5. 3 November 2015

   Referred

   Referred to the Subcommittee on the Constitution and Civil Justice.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 20 October 2015 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 20 October 2015

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 20 October 2015

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 20 October 2015

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  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Flores, Bill [R-TX-17] · R · Sponsor
• · hsju00 · Standing
• · hswm00 · Standing
• · hsgo00 · Standing
• · hsru00 · Standing

Related records

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