Ending Debt Ceiling Crises: Permanent Repeal of the Federal Borrowing Limit.
This bill permanently removes the statutory limit on how much the U.S. government can borrow. This change allows the federal government to continue financing obligations already approved by Congress, thereby eliminating the recurring political crises and the threat of a technical default on U.S. debt. For citizens, this means greater economic stability and assurance that government payments, such as Social Security and interest on bonds, will not be interrupted due to debt ceiling disputes.
Key points
Permanently repeals the federal public debt limit, removing the need for Congress to vote repeatedly to raise the borrowing cap.
Reduces the risk of economic and financial instability associated with approaching the debt ceiling deadline.
Includes technical adjustments to laws governing retirement funds and Social Security to conform with the removal of the limit.
Expired
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