S. 1395 · 118th Congress
A bill to temporarily suspend the debt limit through December 31, 2024.
- Stage
- Introduced
- Sponsor
- Chuck Schumer
- Introduced
- 2023-05-01
- Latest action
- 2023-05-02 · Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 40.
Summary
This bill suspends the federal debt limit through December 31, 2024, and increases the limit on January 1, 2025, to accommodate the obligations issued during the suspension period.
The adjustments to the debt limit for obligations issued during the suspension period are limited to obligations necessary to fund a commitment incurred by the federal government that required payment before January 1, 2025.