United States Congress
Dollar-for-Dollar Deficit Reduction Act
March 1, 2023
Summary
This bill would require any increase or suspension of the federal debt limit to be accompanied by equal or greater net spending reductions over the current and next 10 fiscal years. It establishes points of order in both chambers against debt limit legislation that lacks such offsetting cuts, waivable in the Senate only by a three-fifths supermajority. Interest savings and timing gimmicks are excluded from the savings calculation.
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Source: https://www.congress.gov/bill/118th-congress/hr-bill/1289
Common questions
- What does "Dollar-for-Dollar Deficit Reduction Act" cover?
- This bill would require any increase or suspension of the federal debt limit to be accompanied by equal or greater net spending reductions over the…
- Which agency issued this update?
- This update was issued by United States Congress.
- When was it published?
- It was published on March 1, 2023.