S 3654
117th Congress
Senate
Economics and Public Finance
Debt Ceiling Reform Act
Introduced: February 15, 2022
Introduced by:
Durbin, Richard J.
Democratic
· Illinois
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 15, 2022
Read twice and referred to the Committee on Finance. (text: CR S708-710)
Feb 15, 2022
Introduced in Senate
Plain-English summary
Debt Ceiling Reform Act
This bill replaces the existing federal debt limit with procedures that allow the Department of the Treasury to continue issuing additional debt unless Congress passes a joint resolution of disapproval regarding the additional debt, and the joint resolution becomes law.
What's happening now
Read twice and referred to the Committee on Finance. (text: CR S708-710)
Committees of jurisdiction
1