To require that any debt limit increase or suspension be balanced by equal spending cuts over the next decade.
Summary
What This Bill Does
The bill requires amendment to title 31 Subchapter I of chapter 31 of title 31, United States Code, is amended by inserting after section 3101A the following: 3101B.Debt limit control(a)Declaration of a debt limit warning(1), requires debt limit control In the event of a near breach of the public debt limit established by section 3101, the Secretary of the Treasury shall issue a debt limit warning to the Committee on Finance of the Senate, and requires congressional requirement to restrain spending while raising or suspending the debt limit Title III of the Congressional Budget Impoundment Control Act of 1974 (2 U.S.C. It relies on compliance mandates, definition changes, reporting requirements, and exemptions. The main policy areas are Homeowners, Criminal Justice, Housing, and Environment.
Who Benefits and How
Public beneficiaries or protected communities affected by the clause could face reduced risk, Homeowners, tenants, or housing market participants affected by the bill could face lower compliance burdens, and Environmental and public health interests affected by the bill could face lower compliance burdens.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties, Homeowners, tenants, or housing market participants affected by the bill would take on compliance duties, and Disaster response agencies and disaster-affected communities would take on compliance duties.
Key Provisions
- Requires amendment to title 31 Subchapter I of chapter 31 of title 31, United States Code, is amended by inserting after section 3101A the following: 3101B.Debt limit control(a)Declaration of a debt limit warning(1)...
- Requires debt limit control In the event of a near breach of the public debt limit established by section 3101, the Secretary of the Treasury shall issue a debt limit warning to the Committee on Finance of the Senate...
- Requires congressional requirement to restrain spending while raising or suspending the debt limit Title III of the Congressional Budget Impoundment Control Act of 1974 (2 U.S.C.
- Requires debt limit increase point of order Except as provided in subsection (b), it shall not be in order in the Senate or the House of Representatives to consider any bill, joint resolution, amendment, motion...
- Requires debt limit suspension point of order Except as provided in subsection (b), it shall not be in order in the Senate or the House of Representatives to consider any bill, joint resolution, amendment, motion...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill requires amendment to title 31 Subchapter I of chapter 31 of title 31, United States Code, is amended by inserting after section 3101A the following: 3101B.Debt limit control(a)Declaration of a debt limit warning(1), requires debt limit control In the event of a near breach of the public debt limit established by section 3101, the Secretary of the Treasury shall issue a debt limit warning to the Committee on Finance of the Senate, and requires congressional requirement to restrain spending while raising or suspending the debt limit Title III of the Congressional Budget Impoundment Control Act of 1974 (2 U.S.C.
Key Policy Areas
Homeowners, Criminal Justice, Housing, Environment
Primary Purpose
The bill requires amendment to title 31 Subchapter I of chapter 31 of title 31, United States Code, is amended by inserting after section 3101A the following: 3101B.Debt limit control(a)Declaration of a debt limit warning(1), requires debt limit control In the event of a near breach of the public debt limit established by section 3101, the Secretary of the Treasury shall issue a debt limit warning to the Committee on Finance of the Senate, and requires congressional requirement to restrain spending while raising or suspending the debt limit Title III of the Congressional Budget Impoundment Control Act of 1974 (2 U.S.C.
Policy Domains
Whole bill
Identified Gains
- Public beneficiaries or protected communities affected by the clause
- Homeowners, tenants, or housing market participants affected by the bill
- Environmental and public health interests affected by the bill
- Disaster response agencies and disaster-affected communities
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Homeowners, tenants, or housing market participants affected by the bill
- Disaster response agencies and disaster-affected communities
- Environmental and public health interests affected by the bill
Sponsors
Legislative Progress
IntroducedMr. Barrasso introduced the following bill; which was read twice …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology