S 3654 · 117th Congress

Debt Ceiling Reform Act

<p><b>Debt Ceiling Reform Act</b></p> <p>This bill replaces the existing federal debt limit with procedures that allow the Department of the Treasury to continue issuing additional debt unless Congress passes a joint resolution of disapproval regarding the additional debt, and the joint resolution becomes law.</p>

Sponsor

Durbin, Richard J. (D-IL)

Introduced

2022-02-15

Policy area

Economics and Public Finance

Latest action

Read twice and referred to the Committee on Finance. (text: CR S708-710)