Prohibits a U.S. officer or employee from: (1) delaying the deposit or credit of any amount into any Federal fund, otherwise varying from normal procedures for making deposits or credits, or refraining from investments in public debt obligations of amounts in such fund if the purpose of such action or inaction is to not increase the amount of outstanding public debt obligations; and (2) disinvesting amounts in any such fund which are invested in public debt obligations if a purpose is to reduce the amount of outstanding public debt obligations. Prescribes that during any period for which cash benefits or administrative expenses would not be payable from a covered benefits fund because of an inability to issue further public debt obligations due to the applicable public debt limit, such obligations held by a covered benefits fund will only be sold or redeemed for payment of: (1) such benefits; or (2) administrative expenses and only if cash assets of such fund are not available from month to month for the purpose of making such payments.
Requires the Secretary of the Treasury to notify each House of the Congress and the Comptroller General not less than three days before an expected sale or redemption.
Motion to reconsider laid on the table Agreed to without objection.
Considered under suspension of the rules.
DEBATE - The House proceeded with forty minutes of debate.
VOTE POSTPONED - At the conclusion of debate, the Chair put the question on the motion to suspend the rules and announced that, by voice vote, the measure was not agreed to. Mr. McCrery objected to the vote on grounds that a quorum was not present, and made a point of order that a quorum was not present. Pursuant to clause 5, rule I, the Speaker announced that the vote would be postponed until later in the day.
Considered as unfinished business. (consideration: CR H12232-12238)
Failed of passage/not agreed to in House: On motion to suspend the rules and pass the bill Failed by recorded vote (2/3 required): 247 - 179 (Roll No. 791).(consideration: CR H12247-12248)
Roll Call #791 (House)On motion to suspend the rules and pass the bill Failed by recorded vote (2/3 required): 247 - 179 (Roll No. 791). (consideration: CR H12247-12248)
Roll Call #791 (House)Rules Committee Resolution H. Res. 293 Reported to House. Rule provides for consideration of H.R. 2621 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit. Providing for the consideration of the bill in the House. A specified amendment is in order. Upon adoption of this resolution, the amendment printed in the report accompanying this resolution shall be considered as having been adopted.
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Rule H. Res. 293 passed House.
Considered under the provisions of rule H. Res. 293. (consideration: CR H14885-14899)
Rule provides for consideration of H.R. 2621 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit. Providing for the consideration of the bill in the House. A specified amendment is in order. Upon adoption of this resolution, the amendment printed in the report accompanying this resolution shall be considered as having been adopted.
DEBATE - The House proceeded with one hour of debate.
The previous question was ordered pursuant to the rule.
Mr. Gibbons moved to recommit with instructions to Ways and Means.
DEBATE - The House proceeded with ten minutes of debate on the Gibbons motion to recommit.
The previous question on the motion to recommit with instructions was ordered without objection.
On motion to recommit with instructions Failed by the Yeas and Nays: 190 - 229 (Roll no. 861). (consideration: CR H14899)
Roll Call #861 (House)Passed/agreed to in House: On passage Passed by recorded vote: 235 - 103, 77 Present (Roll no. 862).
Roll Call #862 (House)On passage Passed by recorded vote: 235 - 103, 77 Present (Roll no. 862).
Roll Call #862 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate.