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Debt Management and Fiscal Responsibility Act of 2015
Legislative Progress
Introduced
September 8, 2015
Latest Action
February 22, 2016
Primary Sponsor
Kenny MarchantRepublican(TX)
Momentum (last 30 days)
0
score
0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
89pct
167d open
vs 6,526 other HR bills in the 114th — cohort avg 56d
Debt Management and Fiscal Responsibility Act of 2015 (Sec. 2) This bill requires the Secretary of the Treasury to provide a report to Congress prior to any date on which the Secretary anticipates the public debt will reach the statutory limit. The Secretary must appear before the House Ways and Means Committee and the Senate Finance Committee to submit a report including: historic, current, and projected levels of debt; historic levels of revenue; the drivers and composition of future debt; how the United States will meet debt obligations if the debt limit is raised; reduction measures Treasury intends to take to fund obligations if the debt limit is not raised; and the President's recommendation regarding a balanced budget amendment to the U.S. Constitution. The Secretary must also provide a detailed explanation of: proposals to reduce the debt and a progress report on implementing them; the impact an increased debt limit will have on future spending, debt service, and the position of the U.S. dollar as the international reserve currency; projections of the fiscal health and sustainability of major entitlement programs (including Social Security, Medicare, and Medicaid); measures Treasury is taking or intends to take to avoid default, including a plan to publicly disclose the details; and Treasury's capability to pay only principal and interest on the debt if the limit is reached. Treasury must make the information required by this bill available to the public on its website.
These links require the bill number to appear in the filing's source-reported specific issue text. Client expenses and lobbying-firm income are separate disclosure fields.
Filing registrants (2)
2016 · fourth_quarter · Budget/Appropriations
H.Con.Res.125 2017 Budget; H.Con.Res.140 Fiscal State of the Nation Resolution; H.R. 4730 Unauthorized Spending Accountability Act; S.3182/H.R. 3442 Debt Management and Fiscal Responsibility Act; Issues relating to CMMI/Part B Demo
Client expense: $100,000 · Firm income: Not reported
Received in the Senate and Read twice and referred to the Committee on Finance.
The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 3442.
Motion to reconsider laid on the table Agreed to without objection.
On passage Passed by recorded vote: 267 - 151 (Roll no. 76).
HousePassed/agreed to in House: On passage Passed by recorded vote: 267 - 151 (Roll no. 76).
HouseOn motion to recommit with instructions Failed by recorded vote: 179 - 238 (Roll no. 75). (consideration: CR H748)
HouseThe previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H748)
DEBATE - The House proceeded with 10 minutes of debate on the Doggett motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with amendments to require an analysis of the long-term revenue lost from tax avoidance and evasion resulting from inversions and the exploitation of tax loopholes by businesses and wealthy individuals and the long-term revenue effect of a shrinking middle class.
Bills with similar content found using semantic analysis.
Sources: Congress.gov
Government targets: Federal Communications Commission (FCC), HOUSE OF REPRESENTATIVES, SENATE
2016 · third_quarter · Budget/Appropriations
H.Con.Res.125 2017 Budget; H.Con.Res.140 Fiscal State of the Nation Resolution; H.R. 4730 Unauthorized Spending Accountability Act; S.3182/H.R. 3442 Debt Management and Fiscal Responsibility Act
Client expense: $100,000 · Firm income: Not reported
Government targets: Federal Communications Commission (FCC), HOUSE OF REPRESENTATIVES, SENATE
2016 · first_quarter · Small Business
Access to Capital and Capital Formation: H.R. 4168, Small Business Access to Capital Enhancement Act: Supported House passage, voiced support for legislation in Senate. H.R. 1675, Capital Markets Improvements Act: Supported House passage. H.R. 4498, Helping Angels Lead Our Startups Act (HALOS Act): Advocated for and supported committee passage on legislation. H.R. 4638, Main Street Growth Act: Advocated for and supported committee passage. Tax Reform and Relief: Tax Reform: Advocated for broad-based tax reform focused on lowering rates for small business/individual and corporate taxpayers, full expensing, closing loopholes, and simplifying the tax system. Death Tax Repeal: Advocated for the Senate to act on House-passed repeal legislation (H.R. 1105). Trade and Trans-Pacific Partnership Agreement: Trade Facilitation and Enforcement Act of 2015 Conference Report (H.R. 644): Supported Senate passage of the legislation, which included the Internet Tax Freedom Forever Act. Trans-Pacific Partnership (TPP) Agreement: Educated members of Congress and policymakers about TPPs content, specifically its small business provisions and responded to general myths about the agreement. Regulation and Regulatory Reform: Regulatory Reform: Continued to support action for broad-based regulatory reform and activity related to advancing such, including the formation of the Senate Regulations Caucus, support for the National Regulatory Budget Act of 2014, the Regulations from the Executive in Need of Scrutiny (REINS Act), a Regulatory Cost Budget and legislation as detailed below: Regulatory Improvement Act of 2015 (H.R. 1407, S. 708): Support this bill to develop a commission to identify outdated and duplicative regulations. Independent Agency Regulatory Analysis Act (S. 1607): Support this bill to require agencies to publish cost-benefit analysis, private sector impact of rules and more information on regulations they intend to publish. H.R. 712, Sunshine and Regulatory Decrees and Settlement Act: Supported House passage. H.R. 2017, Common Sense Nutrition Disclosure Act: Supported House passage. H.R. 4612, S.2582, Midnight Rule Relief Act: Voiced support for legislation and committee passage in the House. H.R. 4596, Small Business Broadband Deployment Act: Supported House passage. Resolution of Disapproval on EPA's Waters Rule: Supported House passage. H.R. 1155: Searching for and Cutting Regulations that are Unnecessarily Burdensome Act (SCRUB Act): Supported House passage. Specific Regulations and Comments Renewable Fuel Standard (RFS): Advocated for keeping the standard as is, rather than increasing due to the economic and environmental damage caused by the ethanol mandate. Also support RFS repeal. EPAs New Ozone Standard: Voiced concern about the new standard, and continue to educate the public and policymakers about its impact on small businesses, local economies, workers and various sectors, especially as it relates to implementation and the complexity of "background ozone." Submitted Comments to EPA on "background ozone" DOLs Proposed Fiduciary Regulation: Continue to educate Congress about the harm the proposed rule would have for small businesses trying to provide retirement accounts for their employees. Met with OMB to discuss concerns about final DOL proposal. DOLs Proposed Overtime Regulations: Continue to educate Congress about the harm the proposed rule would have for the workplace, employees and small businesses. Joint Employer Standard: Continued to support legislation (H.R. 3459 and S. 2015) that would modify the NLRBs decision on the standard, which disproportionately harms small businesses and franchises. Legal Reform: H.R. 1927, Fairness in Class Action Litigation Act: Supported House passage. Healthcare Reform: Small Business Healthcare Relief Act (H.R. 2911, S.1698): Continue to support House and Senate passage of this bill to fix Health Reimbursement Account contributions that have been made illegal in the Affordable Care Act. S.2499 and H.R. 4469, Health Savings Act of 2016: Voiced support for the bills in House and Senate. Government Procurement: H.R. 1671, Voiced support for Government Neutrality in Contracting Act Government Accountability and Reform: H.R. 598, Taxpayers Right-to-Know Act: Supported House passage. H.R. 653, FOIA Oversight and Implementation Act: Supported House passage. S.2232, Federal Reserve Transparency Act: Voiced support for legislation. H.R. 3442, Debt Management and Fiscal Responsibility Act: Supported House passage. Affordable Energy and Reform: Energy Policy Modernization Act: Voiced support of the bill in U.S. Senate. H.R. 3797, Satisfying Energy Needs and Saving the Environment Act (SENSE Act): Supported House passage. DOE Comments on LNG: Supported the department's findings on the economic impact of liquified natural gas (LNG) exports. Oil Tax in President's Budget: Expressed concerns about the $10 per barrel proposed tax. Intellectual Property: S.1890 Defend Trade Secrets Act: Voiced support for legislation and Senate passage. H.R. 1283, Songwriters Equity Act: Voiced support for the legislation.
Client expense: $80,000 · Firm income: Not reported
Government targets: Energy, Dept of, Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, Office of Management & Budget (OMB), SENATE, Small Business Administration (SBA), White House Office
2015 · fourth_quarter · Budget/Appropriations
H.R. 3442 The Debt Management and Fiscal Responsibility Act; H.R. 3762 Restoring Americans Healthcare Freedom Reconciliation Act; S.2182 Cut, Cap, and Balance Act; S.2181 Default Prevention Act; H.R. 692 Default Prevention Act; H.R. 2029 Consolidated Appropriations Act
Client expense: $71,000 · Firm income: Not reported
Government targets: Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), SENATE
2015 · third_quarter · Budget/Appropriations
H.R. 3442 The Debt Management and Fiscal Responsibility Act
Client expense: $70,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC)
Mr. Doggett moved to recommit with instructions to the Committee on Ways and Means. (consideration: CR H747-748; text: CR H747)
The House adopted the amendments en gross as agreed to by the Committee of the Whole House on the state of the Union.
The previous question was ordered pursuant to the rule. (consideration: CR H746)
The House rose from the Committee of the Whole House on the state of the Union to report H.R. 3442.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Takano amendment No. 8, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Takano demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
DEBATE - Pursuant to the provisions of H. Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Takano amendment No. 8.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Grijalva amendment No. 7, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Grijavla demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
DEBATE - Pursuant to the provisions of H. Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Grijalva amendment No. 7.
DEBATE - Pursuant to the provisions of H. Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Messer amendment No. 6.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Duffy amendment No. 5, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Duffy demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
DEBATE - Pursuant to the provisions of H. Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Duffy amendment No. 5.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Kelly (IL) amendment No. 4, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Ms. Kelly (IL) demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
DEBATE - Pursuant to the provisions of H. Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Kelly (IL) amendment No. 4.
DEBATE - Pursuant to the provisions of H. Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Newhouse amendment No. 3.
DEBATE - Pursuant to the provisions of H.Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Huelskamp amendment No. 2.
DEBATE - Pursuant to the provisions of H.Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Grijalva amendment No. 1.
GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 3442.
House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 609 and Rule XVIII.
The Speaker designated the Honorable Bradley Byrne to act as Chairman of the Committee.
Resolution provides for consideration of H.R. 3442 and H.R. 3293.
Considered under the provisions of rule H. Res. 609. (consideration: CR H728-749; text of measure as reported in House: CR H735-736)
Rules Committee Resolution H. Res. 609 Reported to House. Resolution provides for consideration of H.R. 3442 and H.R. 3293.
Placed on the Union Calendar, Calendar No. 220.
Reported by the Committee on Ways and Means. H. Rept. 114-291.
Congress.gov source codes: 5000, H12200
Ordered to be Reported by the Yeas and Nays: 22 - 14.
Committee Consideration and Mark-up Session Held.
Referred to the House Committee on Ways and Means.
Introduced in House
Congress.gov source codes: 1000, Intro-H
| Referred to |
| September 8, 2015 |
| September 8, 2015 |
| Republican |
| LA |
| David G. Reichert | Republican | WA |
| Devin Nunes | Republican | CA |
| Diane Black | Republican | TN |
| Erik Paulsen | Republican | MN |
| George Holding | Republican | NC |
| J. Randy Forbes | Republican | VA |
| James B. Renacci | Republican | OH |
| Jeb Hensarling | Republican | TX |
| John R. Carter | Republican | TX |
| K. Michael Conaway | Republican | TX |
| Kevin Brady | Republican | TX |
| Kristi L. Noem | Republican | SD |
| Lamar Smith | Republican | TX |
| Lynn A. Westmoreland | Republican | GA |
| Lynn Jenkins | Republican | KS |
| Mac Thornberry | Republican | TX |
| Michael T. McCaul | Republican | TX |
| Mike Kelly | Republican | PA |
| Patrick J. Tiberi | Republican | OH |
| Patrick Meehan | Republican | PA |
| Pete Olson | Republican | TX |
| Pete Sessions | Republican | TX |
| Peter J. Roskam | Republican | IL |
| Rob Woodall | Republican | GA |
| Roger Williams | Republican | TX |
| Sam Johnson | Republican | TX |
| Todd Young | Republican | IN |
| Tom Price | Republican | GA |
| Tom Reed | Republican | NY |
| Vern Buchanan | Republican | FL |
| Virginia Foxx | Republican | NC |