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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - Senate

Short Titles as Introduced

Dollar-for-Dollar Deficit Reduction Act

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to require that any debt limit increase be balanced by equal spending cuts over the next decade.

Actions Overview (1)

03/23/2017Introduced in Senate

All Actions (1)

03/23/2017Read twice and referred to the Committee on the Budget.
Action By: Senate

Cosponsors (5)

* = Original cosponsor
CosponsorDate Cosponsored
Sen. Rubio, Marco [R-FL]* 03/23/2017
Sen. Capito, Shelley Moore [R-WV]* 03/23/2017
Sen. Isakson, Johnny [R-GA]* 03/23/2017
Sen. Barrasso, John [R-WY]* 03/23/2017
Sen. Lee, Mike [R-UT]* 03/23/2017

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
Senate Budget03/23/2017 Referred to

No related bill information was received for S.716.

Subjects (6)

Latest Summary (1)

There is one summary for S.716. View summaries

Shown Here:
Introduced in Senate (03/23/2017)

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.