H.R. 3753: Debt Ceiling Alternative Act

114th Congress · introduced 2015-10-09 · Economics and Public Finance · Latest: Referred to the Committee on Ways and Means, and in addition to the Committees on Oversight and Government Reform, Financial Services, and Appropriations, 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.

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Follow this bill, step by step

Where it came from: introduced 2015-10-09 · official record
Who proposed it: Rep. Schweikert, David [R-AZ-6] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Committee on Ways and Means, and in addition to the Committees on Oversight and Government Reform, Financial Services, and Appropriations, 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

Debt Ceiling Alternative Act

Plain summary

Debt Ceiling Alternative Act This bill establishes requirements for prioritizing obligations and selling federal assets if the federal debt reaches the statutory limit. If the Department of the Treasury estimates that the debt will reach the limit during a quarter, the President must ensure that the amount deposited in the Treasury from selling federal assets, disposing of real property, and rescinding unobligated balances is sufficient to prevent the debt from reaching the limit. To comply with this bill, the President may order the sale of assets, including: mortgages and real estate held by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), and mortgage-backed securities held by the Board of Governors of the Federal Reserve System or any federal reserve bank. The Office of the Management and Budget must establish a Federal Real Property Disposal Pilot Program, under which real property that is not meeting federal government needs may be disposed of using expedited procedures. If a federal budget deficit exists in 2015 and no later than July 16, 2016, the President may rescind any unobligated balances of funds provided before FY2010. If the debt reaches the statutory limit, the Department of the Treasury may issue additional obligations solely to pay the principal and interest on debt held by the public and the Social Security trust funds. Obligations issued under this authority are exempt from the debt limit.

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

Debt Ceiling Alternative Act

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. Schweikert, David [R-AZ-6] · 0 cosponsors

Cost estimate: No cost estimate published yet.

Sponsor's campaign money: Rep. Schweikert, David [R-AZ-6] reported raising $1.7 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 (5)

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).
Exemption: A rule that removes certain people, property or activities from a tax or requirement.
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 (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114hr3753.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/hr>

Record fed-us-cong114-hr3753 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114