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Bill > HR1092


US HR1092

US HR1092
Responsible Budgeting Act


summary

Introduced
02/06/2025
In Committee
02/06/2025
Crossed Over
Passed
Dead

Introduced Session

119th Congress

Bill Summary

A BILL To amend title 31 of the United States Code and the Congressional Budget Act of 1974 to automatically increase the debt limit for the fiscal year of a budget resolution, and for other purposes.

AI Summary

This bill establishes a new framework for managing the United States debt ceiling by creating an automatic mechanism to increase the debt limit based on budget resolutions and providing a presidential option when Congress fails to act. Under the proposed law, when Congress adopts a budget resolution that reduces the public debt to GDP ratio by at least 5 percentage points in the tenth fiscal year, the debt limit would be automatically increased. If Congress does not pass such a resolution, the President can submit a debt reduction proposal that, if deemed acceptable by the Office of Management and Budget, would allow for a debt limit increase. This proposal would trigger a 30-day congressional review period during which Congress could pass a joint resolution to disapprove the increase. The bill also establishes detailed procedural rules for how such proposals would be introduced, considered, and voted on in both the House of Representatives and the Senate, including expedited consideration processes and specific requirements for debate and voting. The goal is to create a more structured and predictable approach to managing the national debt while encouraging fiscal responsibility through debt reduction targets.

Sponsors (4)

Last Action

Referred to the Committee on Rules, and in addition to the Committees on Ways and Means, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (on 02/06/2025)

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