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Debt Ceiling Reform Act

3/13/2024, 3:23 AM

Congressional Summary of S 3654

Debt Ceiling Reform Act

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.

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Current Status of Bill S 3654

Bill S 3654 is currently in the status of Bill Introduced since February 15, 2022. Bill S 3654 was introduced during Congress 117 and was introduced to the Senate on February 15, 2022.  Bill S 3654's most recent activity was Read twice and referred to the Committee on Finance. (text: CR S708-710) as of February 15, 2022

Bipartisan Support of Bill S 3654

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 3654

Primary Policy Focus

Economics and Public Finance

Alternate Title(s) of Bill S 3654

Debt Ceiling Reform Act
Debt Ceiling Reform Act
A bill to amend Chapter 31 of title 31, United States Code, to provide procedures for congressional disapproval of the issuance of additional debt.

Comments

Sponsors and Cosponsors of S 3654

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