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Act to Protect Citizens from Reckless Debt Extortion

This act aims to ensure the United States can always meet its financial obligations. It introduces a new process allowing the President to temporarily increase the national debt limit to prevent default. Citizens may experience greater economic stability as the act seeks to avert financial crises related to the debt ceiling.
Key points
The President can temporarily raise the debt limit to allow the country to meet its current commitments.
Congress has the power to block the debt limit increase, but must do so within a short timeframe.
The goal is to prevent situations where the government cannot pay for public services, which could impact benefits, salaries, or security.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_S_2819
Sponsor: Sen. Merkley, Jeff [D-OR]
Process start date: 2021-09-23
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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

Protect Our CREDIT Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_2819.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-09-23.

What are the main provisions?

Key points include:

  • The President can temporarily raise the debt limit to allow the country to meet its current commitments.
  • Congress has the power to block the debt limit increase, but must do so within a short timeframe.
  • The goal is to prevent situations where the government cannot pay for public services, which could impact benefits, salaries, or security.
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 Sen. Merkley, Jeff [D-OR].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

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