Debt Ceiling Reform Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 2405 Introduced in Senate (IS)] <DOC> 119th CONGRESS 1st Session S. 2405 To provide a process for ensuring the United States does not default on its obligations. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES July 23, 2025 Mr. Merkley (for himself, Mr. Durbin, and Mr. Kaine) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To provide a process for ensuring the United States does not default on its obligations. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Debt Ceiling Reform Act''. SEC. 2. SUSPENSION OF THE DEBT CEILING. (a) In General.-- (1) Amendments.--Subchapter I of chapter 31 of subtitle III of title 31, United States Code, is amended-- (A) in section 3101(b), by inserting ``or 3101B'' after ``section 3101A''; and (B) by inserting after section 3101A the following: ``Sec. 3101B. Suspensi…