Dollar-for-Dollar Deficit Reduction Act requires equal spending cuts for any debt limit increase or suspension.

The Dollar-for-Dollar Deficit Reduction Act mandates that any increase or suspension of the federal debt limit must be offset by equivalent spending cuts over the next decade. The bill defines a "near breach" as the point when the Treasury Secretary determines the debt limit will be reached within 60 days, despite extraordinary measures. It prohibits shifting outlays or revenues outside the 10-year window to meet the savings target. The Congressional Budget Office must calculate the spending reductions against a specific budget baseline.

Dollar-for-Dollar Deficit Reduction Act requires equal spending cuts for any debt limit increase or suspension.

The Dollar-for-Dollar Deficit Reduction Act mandates that any increase or suspension of the federal debt limit must be offset by equivalent spending cuts over the next decade. The bill defines a "near breach" as the point when the Treasury Secretary determines the debt limit will be reached within 60 days, despite extraordinary measures. It prohibits shifting outlays or revenues outside the 10-year window to meet the savings target. The Congressional Budget Office must calculate the spending reductions against a specific budget baseline.