Wouldn’t suspension of the debt ceiling simply revert to how congress had to borrow money before the existence of the debt ceiling? I believe that before it existed, they had to pass a law authorizing every single sale of treasuries. The debt ceiling made it easier for them to borrow.
Nope. The bill provides that the debt limit will be raised automatically by the amount of debt issued between the date of the bill’s enactment through May 18. It’s pretty much a blank check. It does include language to prevent the government from advancing future debt into this period to take advantage of the automatic increase.