H.R. 1529: Debt Limit Control and Accountability Act of 2017

115th Congress · introduced 2017-03-15 · 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 2017-03-15 · official record
Who proposed it: Rep. Sanford, Mark [R-SC-1] · 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

Debt Limit Control and Accountability Act of 2017

Plain summary

Debt Limit Control and Accountability Act of 2017 This bill prohibits the Department of the Treasury from using extraordinary measures either to prevent the United States from reaching the statutory debt limit or once the debt limit has been reached. Under the bill, extraordinary measures are: suspending investments of the Thrift Savings Plan G Fund or the Exchange Stabilization Fund, suspending the issuance of new securities to the Civil Service Retirement and Disability Fund and Postal Service Retiree Health Benefits Fund, redeeming early securities held by the Civil Service Retirement and Disability Fund and the Postal Service Retiree Health Benefits Fund, suspending the issuance of new State and Local Government Series securities and savings bonds, replacing Treasury securities subject to the debt limit with debt issued by the Federal Financing Bank, or any other extraordinary actions taken by Treasury to avoid defaulting on the obligations of the United States. The bill also repeals statutory provisions that established procedures for presidential modification of the debt ceiling.

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 Limit Control and Accountability Act of 2017

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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

Officials and money

Sponsor: Rep. Sanford, Mark [R-SC-1] · 6 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Ted Budd (R-NC)

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).
Bond: A way to borrow money. A government sells bonds to raise money now and promises to pay it back with interest over time. Bonds repaid from taxes often need voter approval.
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-115hr1529.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/115/hr>

Record fed-us-cong115-hr1529 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115