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US HB1092
Bill
Status
2/6/2025
Primary Sponsor
Scott Peters
Click for details
AI Summary
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Automatically increases the debt limit when Congress adopts a budget resolution that reduces the projected debt-to-GDP ratio by at least 5 percentage points over 10 years, as certified by the Congressional Budget Office
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Allows the President to increase the debt limit if Congress fails to adopt a qualifying budget resolution by April 15 or 60 days before hitting the debt ceiling, provided the President submits a debt reduction proposal meeting the required ratio
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Congress has 30 calendar days to pass a joint resolution of disapproval to block a presidential debt limit increase; requires two-thirds majority in both chambers to override a presidential veto of the disapproval resolution
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Establishes expedited procedures in both chambers for considering the President's debt reduction proposal, including automatic discharge from committee after 60 days and limited debate time (2 hours in the House, 20 hours in the Senate)
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Creates a "queen-of-the-hill" procedure in the House allowing multiple qualifying debt reduction proposals to be offered as amendments, with the version receiving the most votes prevailing
Legislative Description
Responsible Budgeting Act
Economics and public finance
Last Action
Referred to the Committee on Rules, and in addition to the Committees on Ways and Means, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2/6/2025