Debt Ceiling Reform Act

S.1882, the Debt Ceiling Reform Act, requires the Treasury Secretary to certify when debt approaches $1 trillion increments, triggering a 30-day congressional review period during which Congress can disapprove further borrowing via a strict procedural process. If Congress passes a disapproval resolution within 30 days (using expedited rules like 6-day House consideration and 10-hour Senate debate limits), the Treasury cannot issue additional debt. The bill directly affects the Treasury's authority to borrow by establishing a formal, time-bound congressional review mechanism for debt issuance. It replaces outdated procedures by mandating specific resolution formats and enforcing strict timelines for disapproval votes.