Suspends through May 18, 2013, the current $16.394 trillion public debt limit.
Makes a special rule relating to obligations issued during the suspension period. Revises the discretionary increase in the public debt limit by the Secretary of the Treasury, under current law, subject to a congressional resolution of disapproval, upon submission to Congress of required presidential certifications that the debt subject to limit is within $100 billion of the limit and further borrowing is required to meet existing commitments.
Substitutes for this discretionary increase, effective May 19, 2013, an automatic increase in the public debt limit, but only to the extent that: (1) the face amount of obligations issued 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) outstanding on May 19, 2013, exceeds (2) the face amount of such obligations outstanding on the date of enactment of this Act.
Prohibits an obligation from being taken into account unless its issuance was necessary to fund a commitment incurred by the federal government that required payment before May 19, 2013.
Requires the appropriate payroll administrator of each house of Congress to deposit in an escrow account all mandatory payments for compensation of Members of Congress serving in that house if by April 15, 2013, that house has not agreed to a concurrent budget resolution for FY2014. Requires release to those Members of such payments after April 16, 2013, only upon the earlier of: (1) the day on which that house agrees to a concurrent budget resolution for FY2014, or (2) the last day of the 113th Congress.
| Action Date | Type | Text | Source |
|---|---|---|---|
| 2013-02-04 | President | Became Public Law No: 113-3. | House floor actions |
| 2013-02-04 | President | Signed by President. | House floor actions |
| 2013-02-04 | Floor | Presented to President. | House floor actions |
| 2013-01-31 | Floor | Message on Senate action sent to the House. | Senate |
| 2013-01-31 | Vote | Passed Senate without amendment by Yea-Nay Vote. 64 - 34. Record Vote Number: 11. | Senate |
| 2013-01-31 | Vote | Motion by Senator Vitter to commit to Senate Committee on Finance with instructions tabled in Senate by Yea-Nay Vote. 53 - 45. Record Vote Number: 10. | Senate |
| 2013-01-31 | Floor | Measure laid before Senate by unanimous consent. (consideration: CR S413-426, S426-429) | Senate |
| 2013-01-28 | Calendars | Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 7. | Senate |
| 2013-01-24 | Calendars | Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time. | Senate |
| 2013-01-23 | Floor | Motion to reconsider laid on the table Agreed to without objection. | House floor actions |
| 2013-01-23 | Vote | On passage Passed by recorded vote: 285 - 144 (Roll no. 30). (text: CR H237) | House floor actions |
| 2013-01-23 | Vote | On motion to recommit with instructions Failed by the Yeas and Nays: 151 - 277 (Roll no. 29). (consideration: CR H249-250) | House floor actions |
| 2013-01-23 | Floor | The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H249) | House floor actions |
| 2013-01-23 | Floor | DEBATE - The House proceeded with 10 minutes of debate on the Murphy (FL) motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment inserting a new section pertaining to Protecting Veterans, Troops, and Seniors from Benefit Cuts and Cost Increases. | House floor actions |
| 2013-01-23 | Floor | Mr. Murphy (FL) moved to recommit with instructions to Ways and Means. (consideration: CR H248; text: CR H248) | House floor actions |
| 2013-01-23 | Floor | The previous question was ordered pursuant to the rule. (consideration: CR H248) | House floor actions |
| 2013-01-23 | Floor | DEBATE - The House proceeded with one hour of debate on H.R. 325. | House floor actions |
| 2013-01-23 | Floor | Rule provides for consideration of H.R. 325 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments. The resolution waives all points of order against consideration of the bill. The resolution provides that the amendment printed in the report shall be considered as adopted and the bill, as amended shall be considered as read. The resolution waives all points of order against provisions in the bill, as amended. | House floor actions |
| 2013-01-23 | Floor | Considered under the provisions of rule H. Res. 39. (consideration: CR H237-260) | House floor actions |
| 2013-01-23 | Floor | Rule H. Res. 39 passed House. | House floor actions |
| 2013-01-22 | Floor | Rules Committee Resolution H. Res. 39 Reported to House. Rule provides for consideration of H.R. 325 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments. The resolution waives all points of order against consideration of the bill. The resolution provides that the amendment printed in the report shall be considered as adopted and the bill, as amended shall be considered as read. The resolution waives all points of order against provisions in the bill, as amended. | House floor actions |
| 2013-01-21 | IntroReferral | Referred to the Committee on Ways and Means, and in addition to the Committee on House Administration, 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. | House floor actions |
| 2013-01-21 | IntroReferral | Referred to the Committee on Ways and Means, and in addition to the Committee on House Administration, 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. | House floor actions |
| 2013-01-21 | IntroReferral | Introduced in House | Library of Congress |