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Debt Ceiling Reform: Ensuring Financial Stability and Congressional Oversight

This act aims to ensure the United States does not default on its financial obligations. It introduces a new process for suspending the debt ceiling, allowing Congress to quickly disapprove. This is intended to increase financial predictability and avoid public debt crises, indirectly impacting economic stability and currency confidence, and thus citizens' savings and investments.
Key points
Automatic suspension of the debt ceiling for up to 2 years if Congress does not object within 45 days of Treasury Secretary's notification.
Streamlined and expedited congressional procedure for voting on disapproval of debt ceiling suspension, enhancing legislative oversight.
Requirement for the Treasury Secretary to provide Congress with detailed public debt information as a percentage of GDP, increasing financial transparency.
Ensuring that debt ceiling suspension only covers existing commitments, not creating excessive cash reserves.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_4634
Sponsor: Rep. Boyle, Brendan F. [D-PA-2]
Process start date: 2025-07-23
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Debt Ceiling Reform Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_4634.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-07-23.

What are the main provisions?

Key points include:

  • Automatic suspension of the debt ceiling for up to 2 years if Congress does not object within 45 days of Treasury Secretary's notification.
  • Streamlined and expedited congressional procedure for voting on disapproval of debt ceiling suspension, enhancing legislative oversight.
  • Requirement for the Treasury Secretary to provide Congress with detailed public debt information as a percentage of GDP, increasing financial transparency.
  • Ensuring that debt ceiling suspension only covers existing commitments, not creating excessive cash reserves.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Boyle, Brendan F. [D-PA-2].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Economy Public Investments