A bill to provide for a temporary increase in the public debt limit, and to amend the Rules of the House of Representatives to make possible the establishment of the public debt limit in the future as a part of the congressional budget process.

Summary

Title I: Temporary Increase in Public Debt Limit; Exception to Interest Rate Ceiling on Bonds - Amends the Second Liberty Bond Act to temporarily increase the public debt limit by $479,000,000,000 until May 31, 1980. Increases the face amount of bonds with interest rates exceeding four and one-half percent which may be outstanding at any time to $50,000,000,000. Title II: Establishment of Public Debt Limit as Part of Congressional Budget Process - Amends the Rules of the House of Representatives to require the enrolling clerk of the House to prepare and enroll a joint resolution establishing the statutory limit on the public debt consistent with the level set forth in each concurrent resolution on the budget adopted by the Congress pursuant to the Congressional Budget Act of 1974. Declares that such joint resolution shall be deemed adopted by the House by the same vote that agreed to the concurrent resolution on the budget and shall be transmitted to the Senate for further legislative action. Requires each report accompanying any concurrent resolution on the budget to contain a clear statement of its effect on the statutory limit on the public debt. States that the Rule established by this Act shall not effect the power of the House to amend the public debt limit by existing procedures. Declares that any amendment to the level of the public debt set forth in a concurrent resolution on the budget shall be deemed out of order in the House or the Committee of the Whole, except those amendments necessary to achieve mathematical consistency. States that these amendments shall take effect beginning in fiscal year 1981.

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

Timeline

1. 21 September 1979

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 21 September 1979

   Introduced

   Introduced in House

   Source: IntroReferral

3. 21 September 1979

   Introduced

   Introduced in House

   Source: IntroReferral

4. 24 September 1979

   Reported

   Reported to House from the Committee on Ways and Means, H. Rept. 96-472 (Part I).

   Source: Committee

5. 24 September 1979

   Reported

   Reported to House from the Committee on Ways and Means, H. Rept. 96-472 (Part I).

   Source: Committee

6. 26 September 1979

   Vote

   Measure passed House, amended, roll call #511 (219-198).

   Source: Floor

7. 26 September 1979

   Vote

   Passed/agreed to in House: Measure passed House, amended, roll call #511 (219-198).

   Source: Floor

8. 26 September 1979

   Floor

   Measure called up by special rule in House.

   Source: Floor

9. 28 September 1979

   Floor

   Measure called up by unanimous consent in Senate.

   Source: Floor

10. 28 September 1979

    Vote

    Passed/agreed to in Senate: Measure passed Senate, roll call #322 (49-29).

    Source: Floor

11. 29 September 1979

    Became law

    Signed by President.

    Source: BecameLaw

12. 29 September 1979

    Floor

    Measure presented to President.

    Source: Floor

13. 29 September 1979

    President

    Measure presented to President.

    Source: President

14. 29 September 1979

    President

    Measure enrolled in Senate.

    Source: President

15. 29 September 1979

    President

    Measure enrolled in House.

    Source: President

16. 29 September 1979

    President

    Public Law 96-78.

    Source: President

17. 29 September 1979

    President

    Signed by President.

    Source: President

Votes

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Public Law (PDF)

  Public Law · EN · 30 September 1979

  ViewDownloadOpen at official source

• Passed House amended

  summary · EN · 26 September 1979

  Open at official source

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• Introduced in House

  summary · EN · 21 September 1979

  Open at official source

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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. Ullman, Al [D-OR-2] · D · Sponsor
• · hswm00 · Standing
• · hsru00 · Standing

Related records

• related to → A resolution providing for the consideration of H.R. 5369, a bill to provide for a temporary increase in the public debt limit, and to amend the Rules of the House of Representatives to make possible the establishment of the public debt limit in the future as a part of the congressional budget process.

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