S 1190
End the Threat of Default Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, the ‘End the Threat of Default Act,’ seeks to eliminate the statutory debt ceiling, which currently limits the amount of money the U.S. government can borrow. It accomplishes this by amending various sections of the United States Code, including those related to the Congressional Budget Act, the Federal Deposit Insurance Act, and the Social Security Act. These changes aim to shift the focus from the total public debt limit to the face value of issued obligations and guaranteed obligations.
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Primary sponsor
Cosponsors
Dianne Feinstein
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