End the Threat of Default Act

S.1190, the "End the Threat of Default Act," repeals the statutory debt ceiling (Section 3101 of Title 31, U.S. Code), eliminating the legal limit on federal borrowing. This directly affects how the U.S. Treasury manages debt issuance, as it removes the requirement for Congress to vote on raising the debt limit. The bill replaces all references to "debt subject to limit" with terms like "face value of obligations" to align with the repealed ceiling mechanism, preventing future government shutdowns or default risks tied to debt ceiling negotiations.