Sec. 2. Estimate that borrowing will reach the statutory debt limit
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/bill/115/hr/3167/ih/section-2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If the Secretary of the Treasury makes an estimate of net marketable borrowing for a quarter that estimates that the debt of the United States, as defined in section 3101 of title 31, United States Code, will reach the statutory limit during such quarter, the Secretary shall immediately notify Congress of such estimate, and the Secretary of the Treasury shall issue bonds described under section 3 and the President may take the actions described under sections 4 and 5.