; and (2) with full recognition of the constitutional right of either House to change such rules (so far as relating to such House) at any time, in the same manner, and to the same extent as in the case of any other rule of such House. III Temporary Extension of Public Debt Limit 301. Temporary extension of public debt limit (a) In general Section 3101(b) of title 31, United States Code, shall not apply for the period beginning on the date of the enactment of this Act and ending on July 31, 2021. (b) Special rule relating to obligations issued during extension period Effective on August 1, 2021, the limitation in effect under section 3101(b) of title 31, United States Code, shall be increased to the extent that— (1) the face amount of obligations issued under chapter 31 of such title 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) outstanding on August 1, 2021, exceeds (2) the face amount of such obligations outstanding on the date of the enactment of this Act. (c) Extension limited to necessary obligations An obligation shall not be taken into account under subsection (b)(1) unless the issuance of such obligation was necessary to fund a commitment incurred pursuant to law by the Federal Government that required payment before August 1, 2021. IV Offsets 401. Customs user fees (a) In general Section 13031(j)(3) of the Consolidated Omnibus Budget Reconciliation Act of 1985 ( 19 U.S.C. 58c(j)(3) ) is amended— (1) in subparagraph (A), by striking October 20, 2027 and inserting September 30, 2029 ; and (2) in subparagraph (B)(i), by striking September 30, 2027 and inserting September 30, 2029 . (b) Rate for merchandise processing fees Section 503 of the United States–Korea Free Trade Agreement Implementation Act ( Public Law 112–41