Dollar-for-Dollar Deficit Reduction Act
Latest action · Mar 23, 2017 Read twice and referred to the Committee on the Budget.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 23, 2017
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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 U.S. 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.
Cosponsors 5
Members who signed on, in the order they did. All signed on Mar 23, 2017.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-WY | John Barrasso | Original | Mar 23, 2017 |
| R-GA | Johnny Isakson | Original | Mar 23, 2017 |
| R-FL | Marco Rubio | Original | Mar 23, 2017 |
| R-UT | Mike Lee | Original | Mar 23, 2017 |
| R-WV | Shelley Moore Capito | Original | Mar 23, 2017 |
Actions 2
Everything that happened, newest first.
- Mar 23, 2017Introduced in Senate
- Mar 23, 2017Read twice and referred to the Committee on the Budget.
Subjects
Assigned by the Library of Congress. Policy area: Economics and Public Finance.
Text 1
Each version as it was printed, newest first.
- Mar 23, 2017Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.