Session 116

HR 5083

Debt Ceiling Alternative Act

Introduced

Jurisdiction

US Congress

Session

Session 116

Official source

Chamber

House

Session

Session 116

Jurisdiction

US Congress

Bill overview

This bill, the Debt Ceiling Alternative Act, proposes a way to address potential debt ceiling issues without simply raising the limit. If the Treasury Secretary estimates the debt will reach the limit, they must issue bonds whose interest rates are tied to the U.S. Gross Domestic Product. The President can also request Congress to rescind certain unused funds and authorize the sale of mortgage-related assets held by government agencies like Fannie Mae and Freddie Mac to raise money for the Treasury. These actions aim to provide flexibility and avoid a potential default.

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Legislative history

2019-11-14House

Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, the Budget, and Rules, 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.

2019-11-14House

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HR 5083

Bill overview

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