Debt Ceiling Reform Act
Summary
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.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2022
Committee Review
Floor Vote
President
Introduced Feb 15, 2022
Last action Feb 15, 2022
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Feb 15, 2022
Committee
Read twice and referred to the Committee on Finance. (text: CR S708-710)
upper
Feb 15, 2022
Introduced
Introduced in Senate
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Richard J. Durbin
DDemocratic
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