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Dollar-for-Dollar Deficit Reduction Act
The bill establishes a framework to require legislation that increases or suspends the public debt limit to include spending reductions that are equal to or greater than the projected increase in debt that will occur under the legislation. The bill allows the spending reductions to be phased in over the period that includes the current and next 10 fiscal years.
Specifically, the bill requires the Department of the Treasury to notify the House Ways and Means Committee and the Senate Finance Committee when it determines that the federal government will reach the debt limit within 60 days without the implementation of extraordinary measures. The notification must also indicate when extraordinary measures may be necessary to prolong the funding of the federal government in the absence of a debt limit increase.
In addition, the bill requires any formal presidential request to increase the debt limit to include (1) the amount of the proposed increase, and (2) proposed legislation to reduce spending by an amount that is equal to or greater than the amount of the requested increase.
Finally, the bill establishes budget points of order that may be raised in the House of Representative and the Senate against legislation that increases or suspends the debt limit and does not contain net spending reductions that are equal to or greater than the increase in the debt that will occur under the legislation.
Committee on Energy and Natural Resources. Hearings held. Hearings printed: S.Hrg. 119-46.
Mar 12, 2025
Committee on Energy and Natural Resources. Ordered to be reported with an amendment in the nature of a substitute favorably.
Apr 30, 2025
Committee on Energy and Natural Resources. Reported by Senator Lee with an amendment in the nature of a substitute and an amendment to the title. With written report No. 119-106.
Feb 11, 2026
Committee on Energy and Natural Resources. Reported by Senator Lee with an amendment in the nature of a substitute and an amendment to the title. With written report No. 119-106.
Feb 11, 2026
Committee on Energy and Natural Resources. Hearings held. Hearings printed: S.Hrg. 119-46.
Mar 12, 2025
Committee on Energy and Natural Resources. Ordered to be reported with an amendment in the nature of a substitute favorably.
Apr 30, 2025
Committee on Energy and Natural Resources. Reported by Senator Lee with an amendment in the nature of a substitute and an amendment to the title. With written report No. 119-106.
Feb 11, 2026
Committee on Energy and Natural Resources. Reported by Senator Lee with an amendment in the nature of a substitute and an amendment to the title. With written report No. 119-106.
Feb 11, 2026
No CBO cost estimate has been published for this bill.