H.R. 10078 · Where this bill is now
In committee
Introduced in the House, sent to the Committee on Ways and Means, and in addition to the Committees on Rules, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned, Aug 10, 2026
What this bill does
In plain words · AI-written from the official summaryTies debt limit increases to spending cuts
This bill creates a rule that whenever Congress passes a law to raise the federal debt limit, it would have to include spending cuts that match or exceed the amount of the increase. The Treasury Department would notify Congress when the government is running out of borrowing authority, and the President would have to submit detailed plans for spending reductions whenever requesting a debt limit increase.
How it affects you
This bill doesn't directly change what you pay or what benefits you receive right now. Instead, it changes the process Congress uses when dealing with the federal debt limit, which is something Congress votes on periodically. If this becomes law, it would affect which spending programs Congress can cut and how those decisions get made when the government needs to borrow more money.
Read the official summary (Introduced in House, Aug 10, 2026)
Dollar-for-Dollar Deficit Reduction Act
The bill establishes a framework to require legislation that increases or suspends the public debt limit to include spending reductions that are equal to or greater than the projected increase in debt that will occur under the legislation. The bill allows the spending reductions to be phased in over the period that includes the current and next 10 fiscal years.
Specifically, the bill requires the Department of the Treasury to notify the House Ways and Means Committee and the Senate Finance Committee when it determines that the federal government will reach the debt limit within 60 days without the implementation of extraordinary measures. The notification must also indicate when extraordinary measures may be necessary to prolong the funding of the federal government in the absence of a debt limit increase.
In addition, the bill requires any formal presidential request to increase the debt limit to include (1) the amount of the proposed increase, and (2) proposed legislation to reduce spending by an amount that is equal to or greater than the amount of the requested increase.
Finally, the bill establishes budget points of order that may be raised in the House of Representatives and the Senate against legislation that increases or suspends the debt limit and does not contain net spending reductions that are equal to or greater than the increase in the debt that will occur under the legislation.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
2nd SessionH. R. 10078
A BILL
Dollar-for-Dollar Deficit Reduction Act
Sponsor: Rep. W. Gregory Steube (R-FL-17) · Introduced Aug 10, 2026 · Economics and Public Finance · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Aug 10, 2026: “Referred to the Committee on Ways and Means, and in addition to the Committees on Rules, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.”