Declares that: (1) Congress intends to pass an increase in the public debt limit before March 1, 1996; and (2) social security beneficiaries should be assured, in the interim, that social security benefits will be paid on a timely basis in March 1996.
Authorizes the Secretary of the Treasury to issue U.S. obligations before March 1, 1996, in an amount equal to the monthly insurance benefits payable under title II (Old-Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act in March 1996.
Exempts such obligations from the public debt limit until the earlier of March 15, 1996, or the date of enactment of the first increase in such limit after enactment of this Act.
Introduced in House
Referred to the House Committee on Ways and Means.
Rules Committee Resolution H. Res. 355 Reported to House. Rule provides for consideration of H.R. 2924 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Providing for the consideration of the bill in the House. Motion to recommit may include instructions only if offered by the Minority Leader or his designee.
Rule H. Res. 355 passed House.
Considered under the provisions of rule H. Res. 355. (consideration: CR H1197-1200)
Rule provides for consideration of H.R. 2924 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. The bill shall be considered in House. Motion to recommit may include instructions only if offered by the Minority Leader or his designee.
DEBATE - The House proceeded with one hour of debate.
The previous question was ordered pursuant to the rule.
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 396 - 0 (Roll no. 30).
Roll Call #30 (House)On passage Passed by the Yeas and Nays: 396 - 0 (Roll no. 30).
Roll Call #30 (House)Motion to reconsider laid on the table Agreed to without objection.
Passed/agreed to in Senate: Received in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent.(consideration: CR S726)
Received in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent. (consideration: CR S726)
Message on Senate action sent to the House.
Presented to President.
Presented to President.
Signed by President.
Signed by President.
Became Public Law No: 104-103.
Became Public Law No: 104-103.
Enacted as Public Law 104-103
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