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Repealing the U.S. Debt Ceiling

This bill proposes to eliminate the legal limit on how much the U.S. government can borrow. This change means the government would no longer face a cap on its debt, potentially affecting national financial stability and future spending, which could impact inflation or taxes.
Key points
Removes the current legal limit on the amount of money the U.S. government can borrow.
Could influence how the nation's finances are managed and future budget decisions.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_1041
Sponsor: Rep. Boyle, Brendan F. [D-PA-2]
Process start date: 2021-02-15
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To repeal the debt ceiling.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1041.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-02-15.

What are the main provisions?

Key points include:

  • Removes the current legal limit on the amount of money the U.S. government can borrow.
  • Could influence how the nation's finances are managed and future budget decisions.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Boyle, Brendan F. [D-PA-2].

What is the latest detailed status?

The latest detailed status is: Executive Comment Requested from Railroad Accounting Board.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy Public Investments Taxes