1. Short title This Act may be cited as the End the Threat of Default Act . 2. Repeal of debt ceiling (a) In general Section 3101 of title 31, United States Code, is repealed. (b) Technical and conforming amendments (1) Section 301(b)(5) of the Congressional Budget Act of 1974 ( 2 U.S.C. 632(b)(5) ) is amended by striking debt subject to limit (in section 3101 of title 31 of the United States Code) and inserting face value of obligations issued under chapter 31 of title 31, United States Code, and the face amount of obligations whose principal and interest are guaranteed by the United States Government (except guaranteed obligations held by the Secretary of the Treasury) . (2) Section 8348 of title 5, United States Code, is amended by striking subsections (j), (k), and (l). (3) Section 8438 of title 5, United States Code, is amended by striking subsections (g) and (h). (4) Section 14(d)(2) of the Federal Deposit Insurance Act ( 12 U.S.C. 1824(d)(2) ) is amended— (A) by striking subparagraph (A)