Dollar-for-Dollar Deficit Reduction Act
Sen. Barrasso Introduces Dollar-for-Dollar Deficit Reduction Act to Tie Debt Limit to Spending Cuts
This bill was introduced in the Senate and is currently being reviewed by the Committee on the Budget. It is in the early stages of the lawmaking process and no further actions are scheduled at this time. The bill is considered active as it waits for the committee to decide on its next steps.
Legislative Progress
This is a partisan proposal that faces strong opposition from those who believe the debt limit should be raised without conditions to avoid a national default.
Key Points
Impact Analysis
Personal Impact
Life & Work
Federal employee pay, benefits, and workforce size are common targets in deficit reduction packages. This bill's requirement that every debt limit increase be matched with equal spending cuts would create recurring pressure to freeze federal pay, reduce the federal workforce, or restructure retirement benefits as part of broader spending deals.
Programs
Milestones
Read twice and referred to the Committee on the Budget. (text: CR S1582-1583)
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
3 articlesWyoming's U.S. Senators Introduce Legislation on Overspending
Republican Senators John Barrasso and Cynthia Lummis introduced the Dollar-for-Dollar Deficit Reduction Act, requiring any debt limit increase to be matched by equal spending cuts over 10 years. It mandates a 60-day Treasury warning and a presidential plan for specific program cuts.
Rob Portman wants dollar-for-dollar spending cuts for any debt ceiling hike
This legislation, the Dollar-for-Dollar Deficit Reduction Act, would codify the 'Boehner Rule,' requiring that any increase in the debt limit be matched by equivalent spending cuts over the next decade. It aims to rein in spending and address the massive national debt as a condition for borrowing.
Portman Crafts a Spending Strategy
Senator Rob Portman's Dollar-for-Dollar Deficit Reduction Act would require Congress not to raise the debt limit unless the legislation cuts the same amount of spending over the next decade. Portman describes it as a simple concept similar to a family cutting spending when a credit card is maxed.
Source Information
Document Type
Congressional Bill
Official Title
Dollar-for-Dollar Deficit Reduction Act
Data Sources
Sponsor
Cosponsors
(1)Analysis generated by AI. Always verify with official sources.