Section 1 Report on extraordinary measures
In general— Upon the Secretary of the Treasury notifying Congress that the Department of the Treasury has been forced to begin using extraordinary measures in order to meet Federal funding obligations without issuing additional Treasury securities, the Secretary of the Treasury shall issue a report to the voting members of the Financial Stability Oversight Council, the Office of Financial Research, the Committee on Financial Services of the House of Representatives, and the Committee on Banking, Housing, and Urban Affairs of the Senate containing—
a list of available extraordinary measures, stated as a dollar amount;
a projection of the headroom under the statutory limit for the debt of the United States Government (as defined in section 3101 of title 31, United States Code) afforded by each extraordinary measure (where “headroom under the statutory debt limit” refers to the difference between the current statutory debt limit and the projected operating cash balance of the Department of the Treasury);
a projection of the date on which—
all available headroom afforded by use of all available extraordinary measures will be exhausted;
the Department of the Treasury will have an operating cash balance at or below $50,000,000,000;
the debt of the United States Government will be within $50,000,000,000 of reaching the statutory limit; and
the Department of the Treasury will be unable to make timely payments on the debt of the United States Government; and
an attestation by the Secretary of the Treasury as to whether the debt of the United States Government approaching the statutory limit is an emerging threat to the financial stability of the United States.
Projection requirements— Each projection required under subsection (a) shall include a point estimate forecast along with an accompanying 95 percent confidence interval.