Repeals Rule XXVII (Statutory Limit on Public Debt) of the Rules of the House of Representatives. (Thus abolishes the procedure for automatic adjustment of the public debt level upon passage of a new concurrent resolution on the budget setting forth an amount different from the amount of the statutory limit on the public debt otherwise in effect for the period covered by the budget resolution.)
Redesignates Rule XXVIII (General Provisions) as Rule XXVII.