HR-3442 : Still Just a Bill

Debt Management and Fiscal Responsibility Act of 2015

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: the historic, current, and projected levels of the debt; the drivers and composition of future debt; and how the U.S. will meet debt obligations if the debt limit is raised.

The Secretary must also provide a detailed explanation of:

  • proposals of the President to reduce the debt and a progress report on implementing them;
  • the impact an increased debt limit will have on future government spending, debt service, and the position of the U.S. dollar as the international reserve currency; and
  • projections of the fiscal health and sustainability of major entitlement programs (including Social Security, Medicare, and Medicaid).

The Department of the Treasury must make the information required by this bill available to the public on the Treasury website.

Action Timeline

Action DateTypeTextSource
2016-02-22IntroReferralReceived in the Senate and Read twice and referred to the Committee on Finance.Senate
2016-02-11FloorThe Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 3442.House floor actions
2016-02-11FloorMotion to reconsider laid on the table Agreed to without objection.House floor actions
2016-02-11VoteOn passage Passed by recorded vote: 267 - 151 (Roll no. 76).House floor actions
2016-02-11VoteOn motion to recommit with instructions Failed by recorded vote: 179 - 238 (Roll no. 75). (consideration: CR H748)House floor actions
2016-02-11FloorThe previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H748)House floor actions
2016-02-11FloorDEBATE - The House proceeded with 10 minutes of debate on the Doggett motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with amendments to require an analysis of the long-term revenue lost from tax avoidance and evasion resulting from inversions and the exploitation of tax loopholes by businesses and wealthy individuals and the long-term revenue effect of a shrinking middle class.House floor actions
2016-02-11FloorMr. Doggett moved to recommit with instructions to the Committee on Ways and Means. (consideration: CR H747-748; text: CR H747)House floor actions
2016-02-11FloorThe House adopted the amendments en gross as agreed to by the Committee of the Whole House on the state of the Union.House floor actions
2016-02-11FloorThe previous question was ordered pursuant to the rule. (consideration: CR H746)House floor actions
2016-02-11FloorThe House rose from the Committee of the Whole House on the state of the Union to report H.R. 3442.House floor actions
2016-02-11FloorPOSTPONED PROCEEDINGS - At the conclusion of debate on the Takano amendment No. 8, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Takano demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.House floor actions
2016-02-11FloorDEBATE - Pursuant to the provisions of H. Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Takano amendment No. 8.House floor actions
2016-02-11FloorPOSTPONED PROCEEDINGS - At the conclusion of debate on the Grijalva amendment No. 7, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Grijavla demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.House floor actions
2016-02-11FloorDEBATE - Pursuant to the provisions of H. Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Grijalva amendment No. 7.House floor actions
2016-02-11FloorDEBATE - Pursuant to the provisions of H. Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Messer amendment No. 6.House floor actions
2016-02-11FloorPOSTPONED PROCEEDINGS - At the conclusion of debate on the Duffy amendment No. 5, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Duffy demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.House floor actions
2016-02-11FloorDEBATE - Pursuant to the provisions of H. Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Duffy amendment No. 5.House floor actions
2016-02-11FloorPOSTPONED PROCEEDINGS - At the conclusion of debate on the Kelly (IL) amendment No. 4, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Ms. Kelly (IL) demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.House floor actions
2016-02-11FloorDEBATE - Pursuant to the provisions of H. Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Kelly (IL) amendment No. 4.House floor actions
2016-02-11FloorDEBATE - Pursuant to the provisions of H. Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Newhouse amendment No. 3.House floor actions
2016-02-11FloorDEBATE - Pursuant to the provisions of H.Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Huelskamp amendment No. 2.House floor actions
2016-02-11FloorDEBATE - Pursuant to the provisions of H.Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Grijalva amendment No. 1.House floor actions
2016-02-11FloorGENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 3442.House floor actions
2016-02-11FloorHouse resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 609 and Rule XVIII.House floor actions
2016-02-11FloorThe Speaker designated the Honorable Bradley Byrne to act as Chairman of the Committee.House floor actions
2016-02-11FloorResolution provides for consideration of H.R. 3442 and H.R. 3293.House floor actions
2016-02-11FloorConsidered under the provisions of rule H. Res. 609. (consideration: CR H728-749; text of measure as reported in House: CR H735-736)House floor actions
2016-02-09FloorRules Committee Resolution H. Res. 609 Reported to House. Resolution provides for consideration of H.R. 3442 and H.R. 3293.House floor actions
2015-10-07CalendarsPlaced on the Union Calendar, Calendar No. 220.House floor actions
2015-10-07CommitteeReported by the Committee on Ways and Means. H. Rept. 114-291.House floor actions
2015-09-10CommitteeOrdered to be Reported by the Yeas and Nays: 22 - 14.House committee actions
2015-09-10CommitteeCommittee Consideration and Mark-up Session Held.House committee actions
2015-09-08IntroReferralReferred to the House Committee on Ways and Means.House floor actions
2015-09-08IntroReferralIntroduced in HouseLibrary of Congress

Sponsor :

Kenny Marchant [R] (TX-24)
See Cosponsors

Policy Area :

Economics and Public Finance
Related Subjects
  • Budget deficits and national debt
  • Congressional oversight
  • Constitution and constitutional amendments
  • Financial services and investments
  • Government employee pay, benefits, personnel management
  • Government information and archives
  • International monetary system and foreign exchange
  • Medicaid
  • Medicare
  • Securities
  • Social security and elderly assistance
Related Geographic Entities
Related Organizations

Related Bills

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