Debt Management Act of 2013
Latest action. Sponsor introductory remarks on measure. (continuing resolutionA stopgap law funding the government at existing levels when the annual appropriations bills are not done by October 1.Read the full definition (opens a new tab) E1788)
Debt Management Act of 2013 - Requires the Secretary of the Treasury, within 21 to 60 days before any date on which the Secretary anticipates the public debt will reach the current debt limit, to appear before specified congressional committees to provide specified information. (The debt limit was $16.699 trillion before its suspension in the Continuing Appropriations Act, FY2014 [P.L. 113-46].)
Requires the Secretary to include in such appearance:
a report on the state of the public debt, including (1) its historical trajectory, major drivers of the current debt and their quantities, and debt projections; and (2) how, if the debt limit is raised, the United States will meet existing debt obligations, including principal and interest;
a detailed explanation of: (1) any proposal of the President to reduce the structural deficit in the short-term (the following fiscal year), medium-term (approximately 3-5 years), and long-term (approximately 10 years); (2) the impact an increased debt limit will have on future federal spending, service provision, and the status of the U.S. dollar as the international reserve currency; (3) projections of fiscal health and resilience to long-term entitlement program pressures (including Social Security, Medicare, and Medicaid), given the proposed measures to reduce the structural deficit and the amount of increase in the debt limit; and (4) any proposal of the President to reduce the debt-to-gross domestic product (GDP) ratio, based on current trends, with the exclusion of extreme events (i.e. military, economic, and natural catastrophes); and
a detailed report on the progress of implementing all such proposals.
Declares that this report shall only be delivered if a Secretary has already appeared at least once during any term of office for a particular President.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on November 21, 2013. It describes the bill, it is not the legal text.
Sponsor introductory remarks on measure. (CR E1788)
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The record's latest action, on December 4, 2013: Sponsor introductory remarks on measure. (CR E1788)
How likely is it to become law?
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In the 113th Congress (2013-14), 296 of the 9,091 bills and joint resolutions introduced became law, about 3.3 percent. That count covers every measure at every stage, including the many that never left committee.
This one has no outstanding steps listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
Kenny Marchant (R-TX) introduced it on November 21, 2013, and 45 members have since signed on as cosponsors.
They are 45 Republicans.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on November 21, 2013, 4676 days ago. The most recent recorded action was 4663 days ago, on December 4, 2013.
Measures do not carry over. Anything the 113th Congress has not finished by January 3, 2015 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseSponsor introductory remarks on measure. (CR E1788)
- SenateNot stated in the latest action
- PresidentNot stated in the latest action