Bill > S3654

This bill, the Debt Ceiling Reform Act, amends Chapter 31 of Title 31 of the United States Code to provide procedures for congressional disapproval of the issuance of additional federal debt. The key provisions include: (1) defining a "joint resolution" process for Congress to disapprove the President's exercise of authority to issue additional debt when the debt approaches a $1 trillion increment, (2) establishing expedited procedures in the House and Senate for considering and voting on such joint resolutions, and (3) repealing an expired provision related to debt issuance limits. The bill also makes technical and conforming amendments to other laws.