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Referandom Glossary

Debt Limit

Budget and Taxalso called debt ceiling, statutory debt limit, public debt limit

A cap set by law on the total amount the Treasury can borrow. Congress raises or suspends it by law; it limits borrowing to pay for spending already approved, and does not itself approve new spending.

Sources

Congress Guide: What is the debt limit?

Referandom Glossary

In Bills

H.R. 1One Big Beautiful Bill Act

In the Congress Guide

The Budget and AppropriationsWhat is the debt limit?

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