S-Paygo (Contents)
Statutory Pay-As-You-Go Act of 2010
Pub. L. 111-139; ; 124 Stat. 8; Feb. 12, 2010; H.J. Res. 45 (111th Congress)
Joint Resolution Increasing the statutory limit on the public debt. Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That subsection (b) of section 3101 of title 31, United States Code, is amended by striking out the dollar limitation contained in such subsection and inserting in lieu thereof $14,294,000,000,000.
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COUNSEL NOTES
Codification
This section is not classified to the U.S. Code. The change in section 3101 of title 31 of the U.S. Code was amended by this resolving clause, though, and reflects the amendment. It was the last time the amount in that section was specifically amended and all debt limit increases have since been accomplished either through a complex set of procedures as was done by the Budget Control Act of 2011 (Pub. L. 112-25) or by “suspending” the application of the limit as has been done on numerous occasions since the enactment of this clause.
Debt Limit Increase
The resolving clause of Pub. L. 111-139 increased the debt limit from it’s previous level of $12.394 trillion, which was set by Pub. L. 111-123 (Long title: “An Act to permit continued financing of Government operations.” That Act’s single purpose was to increase the public debt limit and did so through following language:
Subsection (b) of section 3101 of title 31, United States Code, is amended by striking the dollar amount contained therein and inserting ‘‘$12,394,000,000,000’’.
Approved December 28, 2009.
LEGISLATIVE HISTORY NOTES
PUBLIC LAWS
Pub. L. 111–139, title I, §4, Feb. 12, 2010, 124 Stat. 9 (Statutory Pay-As-You-Go Act of 2010).
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Budget Counsel 