H.R. 3148: Protect America's Credit Act of 2013

113th Congress · introduced 2013-09-19 · Economics and Public Finance · Latest: Referred to the House Committee on Ways and Means.

federal

Follow this bill, step by step

Where it came from: introduced 2013-09-19 · official record
Who proposed it: Rep. Peters, Scott H. [D-CA-52] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the House Committee on Ways and Means. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Protect America's Credit Act of 2013

Plain summary

Protect America's Credit Act of 2013 - Modifies public debt limit requirements to specify that the debt limit amount applies only to debt held by the public. Reduces the public debt limit by the excess of: (1) the face amount of obligations issued under the federal government's borrowing authority and the face amount of obligations whose principal and interest are guaranteed by the federal government (except guaranteed obligations held by the Secretary of the Treasury), over (2) the face amount of obligations issued under such borrowing authority to the public and the face amount of obligations issued to the public whose principal and interest are guaranteed by the federal government. Requires an increase in the public debt limit each year by an amount equal to the product of such amount as in effect as of the close of the preceding calendar year multiplied by the percentage, if any, by which the Current-Dollar GDP for the third quarter of the preceding calendar year exceeds the Current-Dollar GDP for the third quarter of the second preceding calendar year. Defines "Current-Dollar GDP" as the current-dollar gross domestic product as computed and published by the Department of Commerce. Directs the Secretary to report to Congress annually regarding the increase in the debt limit that will take effect the next calendar year, including a description of how each increase in the statutory limit compares to the actual increase in debt.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Protect America's Credit Act of 2013

Source: Congressional Research Service summary (Introduced in House)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Peters, Scott H. [D-CA-52] · 5 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Sponsor's campaign money: Rep. Peters, Scott H. [D-CA-52] reported raising $2.2 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Obligation: A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.
Statute: A written law passed by a legislature. A statute can be changed by a later law; changing a constitution needs an amendment.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113hr3148.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/hr>

Record fed-us-cong113-hr3148 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113