H.R. 3442: Debt Management and Fiscal Responsibility Act of 2015

114th Congress · introduced 2015-09-08 · Economics and Public Finance · Latest: Received in the Senate and Read twice and referred to the Committee on Finance.

federal

Follow this bill, step by step

Where it came from: introduced 2015-09-08 · official record
Who proposed it: Rep. Marchant, Kenny [R-TX-24] · what a sponsor is
What happened next: 6 recorded votes in our records. Latest: House roll call 71 (2016): On Agreeing to the Amendment, HR3442 (2016-02-11), Failed. See all
Where it stands now: Received in the Senate and Read twice and referred to the Committee on Finance. 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

Debt Management and Fiscal Responsibility Act of 2015

Plain summary

Debt Management and Fiscal Responsibility Act of 2015 (Sec. 2) This bill requires the Secretary of the Treasury to provide a report to Congress prior to any date on which the Secretary anticipates the public debt will reach the statutory limit. The Secretary must appear before the House Ways and Means Committee and the Senate Finance Committee to submit a report including: historic, current, and projected levels of debt; historic levels of revenue; the drivers and composition of future debt; how the United States will meet debt obligations if the debt limit is raised; reduction measures Treasury intends to take to fund obligations if the debt limit is not raised; and the President's recommendation regarding a balanced budget amendment to the U.S. Constitution. The Secretary must also provide a detailed explanation of: proposals to reduce the debt and a progress report on implementing them; the impact an increased debt limit will have on future spending, debt service, and the position of the U.S. dollar as the international reserve currency; projections of the fiscal health and sustainability of major entitlement programs (including Social Security, Medicare, and Medicaid); measures Treasury is taking or intends to take to avoid default, including a plan to publicly disclose the details; and Treasury's capability to pay only principal and interest on the debt if the limit is reached. Treasury must make the information required by this bill available to the public on its website.

Congressional Research Service summary (Passed House amended), 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

Debt Management and Fiscal Responsibility Act of 2015

Source: Congressional Research Service summary (Passed House amended)

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

Officials and money

Sponsor: Rep. Marchant, Kenny [R-TX-24] · 35 cosponsors

Cost estimate: CBO cost estimate: H.R. 3442, Debt Management and Fiscal Responsibility Act of 2015 (2015-09-18)

Cosponsors on this site

Mike Kelly (R-PA), Vern Buchanan (R-FL), Roger Williams (R-TX), John R. Carter (R-TX), Virginia Foxx (R-NC), Michael T. McCaul (R-TX), Pete Sessions (R-TX), Todd Young (R-IN), Adrian Smith (R-NE)

Recorded votes

House roll call 71 (2016): On Agreeing to the Amendment, HR3442 (2016-02-11): Failed
House roll call 72 (2016): On Agreeing to the Amendment, HR3442 (2016-02-11): Agreed to
House roll call 73 (2016): On Agreeing to the Amendment, HR3442 (2016-02-11): Failed
House roll call 74 (2016): On Agreeing to the Amendment, HR3442 (2016-02-11): Failed
House roll call 75 (2016): On Motion to Recommit with Instructions, HR3442 (2016-02-11): Failed
House roll call 76 (2016): On Passage, HR3442 (2016-02-11): Passed

Words on this page, explained (4)

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).
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.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.
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 (Passed House amended)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114hr3442.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/hr>

Record fed-us-cong114-hr3442 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114