S 5480
End the Threat of Default Act of 2024
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Bill overview
This bill, the End the Threat of Default Act of 2024, aims to eliminate the statutory debt ceiling in the United States. It achieves this by repealing the existing debt limit provisions and making technical changes to related legislation to remove references to the debt limit and instead focus on the face value of issued obligations and guaranteed obligations. The bill also includes savings provisions to maintain certain aspects of existing regulations during any potential debt issuance suspension periods.
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Primary sponsor
Cosponsors
Angus S., Jr. King
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