3.0.0 333 2023-01-11T13:28:25Z 2023-01-11T13:28:25Z Senate S 2015-02-02 114 ssbu00 Budget Committee Senate Standing Referred to 2015-02-02T22:09:28Z 2015-02-02 ssbu00 Budget Committee Senate Read twice and referred to the Committee on the Budget. IntroReferral 2015-02-02 Introduced in Senate IntroReferral 10000 9 Library of Congress P000449 Sen. Portman, Rob [R-OH] Rob Portman R OH N A000368 Sen. Ayotte, Kelly [R-NH] Kelly Ayotte R NH 2015-02-02 True B001261 Sen. Barrasso, John [R-WY] John Barrasso R WY 2015-02-02 True B001236 Sen. Boozman, John [R-AR] John Boozman R AR 2015-02-02 True C001047 Sen. Capito, Shelley Moore [R-WV] Shelley Capito R WV Moore 2015-02-02 True C000880 Sen. Crapo, Mike [R-ID] Mike Crapo R ID 2015-02-02 True G000386 Sen. Grassley, Chuck [R-IA] Charles Grassley R IA E. 2015-02-02 True I000055 Sen. Isakson, Johnny [R-GA] Johnny Isakson R GA 2015-02-02 True J000293 Sen. Johnson, Ron [R-WI] Ron Johnson R WI 2015-02-02 True L000577 Sen. Lee, Mike [R-UT] Mike Lee R UT 2015-02-02 True R000595 Sen. Rubio, Marco [R-FL] Marco Rubio R FL 2015-02-02 True V000127 Sen. Vitter, David [R-LA] David Vitter R LA 2015-02-02 True Economics and Public Finance Budget deficits and national debt Budget process Executive agency funding and structure Legislative rules and procedure Presidents and presidential powers, Vice Presidents Economics and Public Finance 00 2015-02-02 Introduced in Senate 2015-05-22T20:30:15Z Dollar-for-Dollar Deficit Reduction Act

This bill requires the Department of the Treasury to issue a debt limit warning to Congress if Treasury determines that the United States will reach the statutory debt limit within 60 days. The warning must include a determination of when extraordinary measures may be necessary to prolong the funding of the United States government in the absence of a debt limit increase.

Any formal Presidential request to increase the debt limit must include: (1) the amount of the proposed increase, and (2) proposed legislation to reduce spending over the sum of the current and following 10 years by at least the amount of the requested increase.

The bill amends the Congressional Budget Act of 1974 to create a point of order in the House and Senate against legislation increasing the debt limit, unless the legislation reduces spending over the sum of the current and following 10 years by at least the amount of the increase.

]]> Dollar-for-Dollar Deficit Reduction Act Display Title Dollar-for-Dollar Deficit Reduction Act Official Title as Introduced A bill to require that any debt limit increase be balanced by equal spending cuts over the next decade. Introduced in Senate IS Short Titles as Introduced Dollar-for-Dollar Deficit Reduction Act Introduced in Senate 2015-02-02T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s333is/xml/BILLS-114s333is.xml 2015-02-02 Read twice and referred to the Committee on the Budget. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.