Tap any paragraph to write a margin note. Your notes collect in the Desk below the text and file under cases with @. The side-by-side margin rail opens on a larger screen.

§
Marginalia
Code · BILL · 116th Congress · S. 2002 (Introduced in Senate) — To require that any debt limit increase or suspension be balanced by equal spending cuts over the next decade. · Sec. 2

Sec. 2. Amendment to title 31

325 words·~1 min read·/bill/116/s/2002/is/section-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Subchapter I of chapter 31 of title 31, United States Code, is amended by inserting after section 3101A the following: In the event of a near breach of the public debt limit established by section 3101, the Secretary of the Treasury shall issue a debt limit warning to the Committee on Finance of the Senate and the Committee on Ways and Means of the House of Representatives that shall include a determination as to when extraordinary measures may be necessary in order to prolong the funding of the United States Government.
In this subsection: The term extraordinary measures means measures that may be taken by the Secretary of the Treasury in the event of a breach of the debt limit by the United States to prolong the function of the United States Government in the absence of a debt limit increase. The term near breach means the point at which the Secretary of the Treasury determines that the United States Government will reach the statutorily prescribed debt limit within 60 calendar days notwithstanding the implementation of extraordinary measures.
Any formal Presidential request to increase the debt limit under this section shall include the amount of the proposed debt limit increase and be accompanied by proposed legislation to reduce spending over the sum of the current and following 10 years by an amount equal to or greater than the amount of the requested debt limit increase. Net interest savings may not be counted towards spending reductions required by this paragraph. The spending savings under paragraph
(1)shall be calculated against a budget baseline consistent with section 257 of the Balanced Budget and Emergency Deficit Control Act of 1985. This baseline shall exclude the extrapolation of any spending that had been enacted under an emergency designation. . The table of sections for chapter 31 of title 31, United States Code, is amended by inserting after the item for section 3101A the following: 3101B. Debt limit control. .
★   the supreme law of the land   ★
Don't Tread on Me
E Pluribus Unum — out of many, one

"If you don't know your rights, you don't have any."

Marginalia · a citizen's law index
A research desk, not legal advice. Always read the cited source before relying on a summary.
Questions or an issue? support@self-law.org
disclaimerMarginalia is a research index, not a law firm. Nothing on this site is legal, tax, or financial advice and no attorney–client relationship is formed by using it. Statutes, regulations, and case law change; summaries, search results, AI output, and member posts may be incomplete, out of date, or wrong. Any interpretation drawn from material on this site should be validated by a licensed attorney in your jurisdiction before you act on it.