S.2405

Debt Ceiling Reform Act establishes expedited procedures for Congress to consider joint resolutions suspending the debt ceiling.

The Debt Ceiling Reform Act establishes expedited procedures for Congress to consider joint resolutions suspending the debt ceiling. The Secretary of the Treasury must submit a certification to Congress if further borrowing is necessary. The act outlines specific rules for the consideration of these joint resolutions in both the House of Representatives and the Senate, including time limits for committee reporting and floor consideration. It also specifies that if Congress fails to enact a disapproval resolution within 45 days, the suspension of the debt ceiling will continue.