Dollar-for-Dollar Deficit Reduction: Spending Cuts for Debt Limit Increases
This bill aims to ensure that any increase in the public debt limit is matched by equal government spending cuts over the next ten years. This means the government would need to identify budget savings to continue borrowing, potentially impacting the availability of public programs and services in the future.
Key points
Any debt limit increase must be offset by equal spending cuts over 10 years, potentially limiting new government programs.
The President must propose spending cuts when requesting a debt limit increase.
Congress cannot vote on debt limit increases without publicly available cost estimates and proposed savings.
Expired
Citizen Poll