US Congress Senate Bill 333 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 12-0)
Status: Introduced on February 2 2015 - 25% progression, died in committee
Action: 2015-02-02 - Read twice and referred to the Committee on the Budget.
Pending: Senate Budget Committee
Text: Latest bill text (Introduced) [PDF]

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

Sen. Rob Portman [R-OH]	Sen. Kelly Ayotte [R-NH]	Sen. John Barrasso [R-WY]	Sen. John Boozman [R-AR]
Sen. Shelley Capito [R-WV]	Sen. Mike Crapo [R-ID]	Sen. Chuck Grassley [R-IA]	Sen. Johnny Isakson [R-GA]
Sen. Ron Johnson [R-WI]	Sen. Mike Lee [R-UT]	Sen. Marco Rubio [R-FL]	Sen. David Vitter [R-LA]

Date	Chamber	Action
2015-02-02	Senate	Read twice and referred to the Committee on the Budget.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/senate-bill/333/all-info
Text	https://www.congress.gov/114/bills/s333/BILLS-114s333is.pdf