Responsible Budgeting Act

The Responsible Budgeting Act establishes a new process for increasing the U.S. debt limit based on budget resolutions that meet specific debt reduction targets. If Congress adopts a budget resolution reducing the debt-to-GDP ratio by at least 5 percentage points over 10 years, the debt limit automatically increases to match the budget's projected debt level. If Congress fails to adopt such a resolution by a deadline, the President can submit a debt reduction proposal meeting the target, triggering an automatic debt limit increase unless Congress passes a disapproval resolution within 30 days. The bill creates expedited procedures for Congress to consider these proposals, requiring any bill to meet the debt reduction target to be considered.