Lets the Treasury Secretary temporarily suspend the national debt limit, reducing default risk.
This bill would change how the U.S. government handles its debt limit. It would let the Treasury Secretary temporarily suspend the limit for up to two years, unless Congress votes to stop it within 45 days. This aims to prevent the government from defaulting on its financial promises.
Today, Congress must pass a new law to raise or suspend the national debt limit whenever the government approaches its borrowing cap. After this bill, the Treasury Secretary would be able to temporarily suspend the debt limit for up to two years, unless Congress passes a special resolution to block it within 45 calendar days. This would shift the burden of action from raising the limit to disapproving its suspension.
HR 4634 · 119th Congress · July 23, 2025 · AI Summary by gemini-2.5-flash · 8/10
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