Promoting Physical Activity for Americans Act

Oct 14, 2021

Summary

Allows the government to borrow an additional $480 billion to pay for its existing financial commitments.

What problem does this solve?

The U.S. government was close to reaching its borrowing limit, which could have caused it to fail to pay its bills. This law raises the debt ceiling, giving the government more room to borrow money to pay for things it has already bought.

What does this law do?

Increases the national debt limit

Raises the total amount of money the United States government is allowed to borrow by $480,000,000,000.

Who does this affect?

U.S. Department of the Treasury
Federal government agencies
American taxpayers

What is the real world impact?

•

Prevents a government default

The main goal is to avoid a financial crisis that would happen if the U.S. government could not pay its bills, like Social Security, military salaries, and interest on existing debt.

When does this start?

This law takes effect as soon as it is signed.