An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Debt Ceiling

A legal limit on the total amount of money the United States government can borrow to meet its existing legal obligations, such as paying Social Security benefits, military salaries, and interest on the national debt.

Default (on obligations)

When the government fails to pay its financial commitments on time, for example, missing payments on its debt, benefits, or salaries, often because it has reached its legal borrowing limit.

Joint Resolution

A legislative measure that, if passed by both the House and Senate and signed by the President (or overridden a veto), has the force of law. In this bill, it specifically refers to a measure used by Congress to disapprove the Treasury Secretary's action.

Certification

A formal written statement submitted by the Secretary of the Treasury to Congress, notifying them of the need to suspend the debt ceiling.

Secretary of the Treasury

The head of the U.S. Department of the Treasury, who is responsible for managing the government's finances and economic policy.

Expedited Consideration

Special legislative rules that allow a bill or resolution to be considered and voted on more quickly than usual in Congress, often with limited debate and restrictions on amendments.