Debt Ceiling Reform Act

HR 3953, the Debt Ceiling Reform Act, changes how Congress can block the Treasury from borrowing more money. It requires the Treasury to notify Congress when debt approaches a $1 trillion increment, giving Congress 30 days to pass a resolution disapproving further borrowing. The bill mandates strict timelines: the House must act within 6 days of introduction (with committees required to report bills within 5 days), and the Senate must consider the resolution within 6 days with limited debate. This process directly affects the Treasury’s ability to issue debt and Congress’s procedural control over debt ceiling decisions. The bill does not eliminate the debt ceiling but streamlines the disapproval process.