Summary: H.R.3721 — 99th Congress (1985-1986)All Information (Except Text)

Bill summaries are authored by CRS.

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Passed Senate amended (11/13/1985)

(Measure passed Senate, amended)

Increases the public debt limit until December 6, 1985, by an amount determined by the Secretary of the Treasury to be necessary to permit the United States to meet its obligations, but not in excess of $1,903,800,000,000. Directs the Secretary to restore to the Social Security Trust Funds and any other Government trust funds any securities disinvested since September 30, 1985.

Extends to December 14, 1985: (1) the increase in the excise tax on cigarettes; (2) the trade adjustment assistance program; (3) borrowing authority under the Railroad Unemployment Insurance Act; and (4) Medicare hospital and physician payments.