The Debt Limit (CRS Report for Congress)
| Release Date |
Revised Sept. 15, 2023 |
| Report Number |
IF10292 |
| Report Type |
In Focus |
| Authors |
Grant A. Driessen |
| Source Agency |
Congressional Research Service |
| Older Revisions |
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Summary:
The debt limit places a statutory constraint on the amount of
money that Treasury may borrow to fund federal
operations. The statutory debt limit is currently suspended
through January 1, 2025. Congress may debate the merits of
various debt limit modifications in advance of the debt
limit’s reinstatement. This In Focus provides background
information and discusses recent legislative activity.
More information on the debt limit can be found in CRS
Report R41633, Reaching the Debt Limit: Background and
Potential Effects on Government Operations; CRS Report
R43389, The Debt Limit Since 2011; CRS Report R45011,
Clearing the Air on the Debt Limit: Platinum Coins, the
Fourteenth Amendment, and More; and CRS Report
R44383, Deficits, Debt, and the Economy: An Introduction.
