US Congress Senate Bill 43 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 30-0)
Status: Introduced on January 22 2013 - 25% progression, died in committee
Action: 2013-01-22 - Read twice and referred to the Committee on the Budget.
Pending: Senate Budget Committee
Text: Latest bill text (Introduced) [PDF]

Dollar-for-Dollar Deficit Reduction Act - Requires the Secretary of the Treasury, in the event of a near breach of the current $14.294 trillion public debt limit, to issue a debt limit warning to the Senate Committee on Finance and the House Committee on Ways and Means that includes a determination as to when extraordinary measures may be necessary in order to prolong the funding of the federal government in the absence of a debt limit increase. Requires any formal presidential request to increase the public debt limit to include the amount of the proposed debt limit increase and be accompanied by proposed legislation to reduce spending over the sum of the current and following 10 years by an amount equal to or greater than the amount of the requested debt limit increase. Prohibits net interest savings from being counted towards the spending reductions. Amends the Congressional Budget Act of 1974 to make it out of order in both chambers to consider any bill, joint resolution, amendment, motion, or conference report that increases the statutory debt limit unless it contains such net spending reductions. Prohibits Congress from voting on any measure that increases the public debt limit unless the cost estimate of that measure prepared by the Congressional Budget Office (CBO) has been publicly available on the CBO website for at least 24 hours. Permits waiver or suspension of this prohibition, or successful appeals from rulings of the Chair, only by an affirmative vote of three-fifths (60) of the Senate.

Dollar-for-Dollar Deficit Reduction Act

Sen. Rob Portman [R-OH]	Sen. Kelly Ayotte [R-NH]	Sen. John Barrasso [R-WY]	Sen. John Boozman [R-AR]
Sen. Saxby Chambliss [R-GA]	Sen. Tom Coburn [R-OK]	Sen. Bob Corker [R-TN]	Sen. John Cornyn [R-TX]
Sen. Mike Crapo [R-ID]	Sen. Michael Enzi [R-WY]	Sen. Jeff Flake [R-AZ]	Sen. Lindsey Graham [R-SC]
Sen. Chuck Grassley [R-IA]	Sen. John Hoeven [R-ND]	Sen. James Inhofe [R-OK]	Sen. Johnny Isakson [R-GA]
Sen. Mike Johanns [R-NE]	Sen. Ron Johnson [R-WI]	Sen. Mark Kirk [R-IL]	Sen. Mike Lee [R-UT]
Sen. John McCain [R-AZ]	Sen. Mitch McConnell [R-KY]	Sen. James Risch [R-ID]	Sen. Pat Roberts [R-KS]
Sen. Marco Rubio [R-FL]	Sen. Jeff Sessions [R-AL]	Sen. John Thune [R-SD]	Sen. Pat Toomey [R-PA]
Sen. David Vitter [R-LA]	Sen. Roger Wicker [R-MS]

Date	Chamber	Action
2013-01-22	Senate	Read twice and referred to the Committee on the Budget.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/senate-bill/43/all-info
Text	https://www.congress.gov/113/bills/s43/BILLS-113s43is.pdf