A bill to provide for a temporary increase in the public debt limit, and for other purposes.

[AI summary unavailable — showing source text] Increases the public debt limit set forth in the Second Liberty Bond Act by $726,900,000,000 for the period beginning on the date of the enactment of this Act and ending on August 12, 1982. Repeals the interest rate ceiling on savings bonds and retirement bonds. Authorizes the Secretary of the Treasury, with the approval of the President, to provide for increases and decreases in the investment yield on outstanding savings and retirement bonds. Declares that in the case of any savings bond issued before the 30th day after the date of the enactment of this Act the minimum yield guaranteed for any period shall be the scheduled investment yield for such period as in effect on such 30th day. Amends the Internal Revenue Code of 1954 to permit Members of Congress to make tax deductions by reason of being away from home in the pursuit of a trade or business. Limits to $3,000 the amount of living expenses that may be deducted as travel expenses by Members of Congress in any year, beginning with 1982.…