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This bill — known as the Dollar-for-Dollar Deficit Reduction Act — would require the Dept. of the Treasury to issue a debt limit warning to Congress if it will be reached within 60 days that includes a determination of when extraordinary measures may be necessary to fund the government. Any presidential request to increase the debt limit would be required to include the amount of the proposed increased and suggested legislation to reduce spending by at least that sum over 10 years. A point of order could be raised in the House and Senate against legislation that raises the debt limit without reducing spending over 10 years by the amount of the increase.

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The warning must include a determination of when extraordinary measures may be necessary to prolong the funding of the U.S. government in the absence of a debt limit increase.\n\nAny formal Presidential request to increase the debt limit must include: (1) the amount of the proposed increase, and (2) proposed legislation to reduce spending over the sum of the current and following 10 years by at least the amount of the requested increase.\n\nThe bill amends the Congressional Budget Act of 1974 to create a point of order in the House and Senate against legislation increasing the debt limit, unless the legislation reduces spending over the sum of the current and following 10 years by at least the amount of the increase.","summarized":true,"cost":null,"cost_commentary":"A CBO cost estimate is unavailable.","impact":"U.S. citizens and taxpayers; Congress; and the president.","argument_for":"The debt is out of control, and the best way to keep the federal government from continuing to add to it year after year is by tying all debt limit increases to offsetting spending cuts.","argument_against":"Congress shouldn’t tie all future increases of the debt limit to mandatory spending cuts that could impact important services the federal government offers.","bill_type":"s","published":true,"type":"FederalBill","id":"s716-115","bill_id":"s716-115","formal_id":"S. 716","chamber":"senate","congress":115,"last_action_at":"2017-03-23T00:00:00.000Z","active":false,"enacted":false,"enacted_at":null,"vetoed":false,"last_vote_at":null,"debated_on":null,"congress_url":"https://www.congress.gov/bill/115th/senate-bill/716","plain_text_url":"https://www.gpo.gov/fdsys/pkg/BILLS-115s716is/html/BILLS-115s716is.htm","shareable_image_url":"https://n.causes.com/share-images/bills/s716-115.png","congress_full_text_url":"https://www.congress.gov/bill/115th/senate-bill/716/text","is_current_congress":false,"last_version_on":"2017-03-23","related_bill_ids":[],"progress":"Introduced","house_passage_result":false,"senate_passage_result":false,"position_count":608,"committees":[{"name":"Committee on the Budget","chamber":"senate","committee_id":"SSBU","subcommittee":false}],"links":{"rollCalls":"/api/roll_calls?bill_id=s716-115","details":"/api/bills/s716-115/details","sharingMessage":"/api/sharing_messages/s716-115","positionsFor":"/api/bills/s716-115/positions/for","positionsAgainst":"/api/bills/s716-115/positions/against"},"upcoming":false,"cosponsors_count":5,"slug":"s716-115-dollar-for-dollar-deficit-reduction-act","latest_chamber_votes_id":null,"official_url":null,"target_video":true,"following":false,"vote_count":3389,"yea_vote_count":767,"nay_vote_count":2613,"passed_house":false,"passed_senate":false,"vote_id":null,"my_position_id":null,"topic_ids":["economy"],"issue_ids":["economy"],"sponsor_id":532}],"votes":[],"issues":[{"id":"economy","name":"Economy","slug":"economy","description":"The US Economy is heavily impacted by Federal legislation. 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This is incredibly harmful to us and to many of the most vulnerable people in our country.","show_argument_for":false,"show_argument_against":true,"upvote_count":1,"upvotes_for_count":null,"upvotes_against_count":1,"has_upvoted":false,"endorsement_count":1,"links":{"self":"https://www.causes.com/positions/71efefb3-ac0a-4e60-92ac-dc64672438d4"},"body":"I think this would result in random cuts that are not well thought-through, in order to get increases desired. This is incredibly harmful to us and to many of the most vulnerable people in our country.","stance":"nay","created_at":"2017-06-10T19:22:50.069Z","shareable_image_url":"https://n.causes.com/share-images/positions/71efefb3-ac0a-4e60-92ac-dc64672438d4.png","note_color":null,"note_text":null,"bill_id":"s716-115","user_id":"kmw137lW","endorser_ids":["pWR0GMgm"]}}

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Should Debt Ceiling Hikes be Tied to Dollar-for-Dollar Spending Cuts?