United States Congress
Dollar-for-Dollar Deficit Reduction Act
March 8, 2023
Summary
The Dollar-for-Dollar Deficit Reduction Act (S. 714) is a Senate bill that would require any increase or suspension of the federal debt limit to be paired with equal spending reductions over the current and next ten fiscal years, with net interest savings excluded. It establishes points of order in both chambers and mandates that CBO cost estimates be publicly available for at least 24 hours before a vote. This fiscal-policy measure does not directly regulate mortgage lending, servicing, or compliance activities.
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Source: https://www.congress.gov/bill/118th-congress/s-bill/714
Common questions
- What does "Dollar-for-Dollar Deficit Reduction Act" cover?
- The Dollar-for-Dollar Deficit Reduction Act (S. 714) is a Senate bill that would require any increase or suspension of the federal debt limit to be paired…
- Which agency issued this update?
- This update was issued by United States Congress.
- When was it published?
- It was published on March 8, 2023.