Dollar-for-Dollar Deficit Reduction Act

This bill says that any time Congress wants to raise or pause the limit on how much money the government can borrow, it must also cut spending by at least the same amount, and those cuts can be spread out over the next 10 years. The Department of the Treasury would have to warn certain congressional committees when the government is close to hitting its borrowing limit. If the president asks Congress to raise the borrowing limit, the request must include a plan to cut spending by at least the same amount. The bill also creates rules that allow members of Congress to object to and block any borrowing limit increase that doesn't come with matching spending cuts.

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