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House Bill 3750
118th Congress(2023-2024)
To provide a 1-week extension of the public debt limit.
Introduced
Introduced
Introduced in House on May 30, 2023
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Introduced in House 
May 30, 2023
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Introduced in House(May 30, 2023)
May 30, 2023
No Linkage Found
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Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
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H. R. 3750 (Introduced-in-House)


118th CONGRESS
1st Session
H. R. 3750


To provide a 1-week extension of the public debt limit.

IN THE HOUSE OF REPRESENTATIVES

May 30, 2023

Mr. Mills introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To provide a 1-week extension of the public debt limit.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Temporary extension of public debt limit.

(a) In General.—Section 3101(b) of title 31, United States Code, shall not apply for the period beginning on the date of the enactment of this Act and ending on June 12, 2023.

(b) Special Rule Relating to Obligations Issued During Extension Period.—Effective on June 11, 2023, the limitation in effect under section 3101(b) of title 31, United States Code, shall be increased to the extent that—

(1) the face amount of obligations issued under chapter 31 of such title and the face amount of obligations whose principal and interest are guaranteed by the United States Government (except guaranteed obligations held by the Secretary of the Treasury) outstanding on June 11, 2023, exceeds

(2) the face amount of such obligations outstanding on the date of the enactment of this Act.

(c) Restoring Congressional Authority Over the National Debt.—

(1) EXTENSION LIMITED TO NECESSARY OBLIGATIONS.—An obligation shall not be taken into account under subsection (b)(1) unless the issuance of such obligation was necessary to fund a commitment incurred pursuant to law by the Federal Government that required payment before June 11, 2023.

(2) PROHIBITION ON CREATION OF CASH RESERVE DURING EXTENSION PERIOD.—The Secretary of the Treasury shall not issue obligations during the period specified in subsection (a) for the purpose of increasing the cash balance above normal operating balances in anticipation of the expiration of such period.