Dollar-for-Dollar Deficit Reduction Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4173 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4173 To require that any debt limit increase or suspension be balanced by equal spending cuts over the next decade. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES March 24, 2026 Mr. Barrasso (for himself and Ms. Lummis) introduced the following bill; which was read twice and referred to the Committee on the Budget _______________________________________________________________________ A BILL To require that any debt limit increase or suspension be balanced by equal spending cuts over the next decade. 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 ``Dollar-for-Dollar Deficit Reduction Act''. SEC. 2. AMENDMENT TO TITLE 31. (a) In General.--Subchapter I of chapter 31 of title 31, United States Code, is amended by inserting after section 3101A the following: ``Sec. 3101B. Debt limit control ``(a) Declaration of a Debt Limit Warning.-- ``(1) In general.--I…