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Debt-Limit Legislation in the Congressional Budget Process (CRS Report for Congress)

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Release Date Revised June 26, 2008
Report Number 98-453
Authors Bill Heniff, Jr., Government and Finance Division
Source Agency Congressional Research Service
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Summary:

The amount of money the federal government is allowed to borrow generally is subject to a statutory limit (31 U.S.C. 3101). From time to time, Congress considers and adopts legislation to change this limit. This report provides a brief overview of debt-limit legislation within the congressional budget process. For more information on the budget process, see the CRS Guides to Congressional Processes at {http://www.crs.gov/products/guides/guidehome.shtml].