H.R. 3149: Pay Down the Debt Act of 2013

113th Congress · introduced 2013-09-19 · Economics and Public Finance · Latest: Referred to the Committee on the Budget, and in addition to the Committee on 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.

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 Committee on the Budget, and in addition to the Committee on 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. 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

Pay Down the Debt Act of 2013

Plain summary

Pay Down the Debt Act of 2013 - Amends the Congressional Budget Act of 1974 to establish a budget target for: (1) FY2016 that is a ratio of debt held by the public to the estimated gross domestic product (GDP) that is lower than the ratio in FY2015, and (2) a fiscal year after FY2016 that is a ratio of such debt to the GDP that does not exceed the ratio in the prior fiscal year. Requires the Director of the Office of Management and Budget (OMB) to report each year to the President and the Director of the Congressional Budget Office (CBO) to report to Congress whether the projected debt-to-GDP ratio will exceed the prior fiscal year's ratio in any of the five ensuing fiscal years. Requires the President's budget submission to Congress to include recommendations to achieve the budget targets set by this Act if the OMB report indicates that ratios of debt to GDP will be exceeded in any of FY2016-FY2024. Requires a concurrent resolution on the budget, if the CBO report indicates that for any of such fiscal years the ratios will be exceeded, to include stabilization instructions directing congressional committees to determine and recommend changes in laws within their jurisdictions that achieve the budget targets set forth in this Act. Makes it out of order in the House of Representatives or the Senate to: (1) consider any concurrent resolution on the budget that fails to include directions sufficient to achieve budget targets set by this Act, or (2) consider any legislation that provides a net increase in mandatory budget authority or a net decrease in revenues. Suspends the requirements of this Act for any fiscal year: (1) if the Secretary of the Treasury notifies the President and each chamber of Congress and publishes in the Federal Register that the estimated real GDP in a fiscal year would exceed the real GDP of the prior year by less than 1%; or (2) upon enactment of a joint resolution stating that the stabilization legislation would cause or exacerbate an economic downturn. Allows any Member of the House of Representatives or the Senate to introduce a bill to achieve the applicable budget target if Congress has not agreed to a concurrent resolution on the budget by June 15 of a calendar year in which the debt stabilization process has been triggered by a report by the Director of CBO. Requires such Director to prepare and submit to Congress a cost estimate for the bill. Provides for expedited congressional consideration of the bill if it has at least 50 cosponsors in the House of Representatives or 10 in the Senate.

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

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A “Yea” vote

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

A “Nay” vote

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

What does this mean? (plain words)

Official text

Pay Down the Debt 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] · 2 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 (7)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
CBO cost estimate: The Congressional Budget Office's estimate of how a federal bill would change government spending and revenue. CBO is nonpartisan.
Federal Register: The official daily publication of the U.S. government for agency rules, proposed rules, public notices and presidential documents.
Fiscal year: The 12-month period a government uses for its budget. The federal fiscal year runs from October 1 to September 30 and is named for the calendar year in which it ends. Most states use July 1 to June 30.
Joint resolution: In Texas, the type of measure the Legislature uses to propose a constitutional amendment (marked HJR or SJR). The governor does not sign or veto it; the voters decide. In Congress a joint resolution can also be used like a bill. In Florida, a joint resolution passed by three-fifths of the members of each chamber puts a constitutional amendment on the ballot.
Resolution: A formal statement or decision by a legislative body. Simple resolutions often only express an opinion or set rules for one chamber; they do not become law.
Sponsor and cosponsor: The sponsor is the member who introduces a bill and leads it. Cosponsors are other members who sign on to show support.

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-113hr3149.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/hr>

Record fed-us-cong113-hr3149 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113