A bill to require that any debt limit increase or suspension be balanced by equal spending cuts over the next decade

Progress

Timeline

• Mar 24Read twice and referred to the Committee on the Budget.

Summary

**What it does:** This bill would require that whenever Congress raises or suspends the federal debt ceiling, it must also implement spending cuts equal to the debt increase over the following 10 years. **Who it affects:** - All Americans who rely on federal programs and services - Government agencies and employees - Recipients of federal benefits, grants, or contracts - Anyone impacted by changes in government spending levels **What would change:** If passed, any future increase to the debt limit would automatically trigger mandatory spending reductions spread across a decade. For example, if the debt ceiling were raised by $1 trillion, Congress would need to cut $1 trillion in spending over 10 years. This would fundamentally change how Congress approaches both debt management and federal budgeting by linking the two decisions together. **Current status:** The bill is being reviewed in committee and has not yet been voted on by the full Senate.

How This Affects You