End the Threat of Default Act of 2024

The End the Threat of Default Act of 2024 would repeal the statutory debt ceiling, a legal limit on how much the U.S. government can borrow. This change would eliminate the need for Congress to vote on raising the debt ceiling to avoid defaulting on government obligations like Social Security payments or military salaries. The bill also includes technical updates to other laws to remove references to the debt ceiling. The repeal would take effect 7 days after the bill is enacted.