The United States Senate Budget Committee has introduced a draft resolution that would raise the national debt ceiling by up to $5 trillion. The proposed plan also outlines a projected increase in the federal budget deficit of $1.5 trillion over the next decade. The resolution marks a significant fiscal policy move with far-reaching implications.

Key provisions of the draft include a proposed $150 billion increase in military spending over the coming 10 years. At the same time, it recommends the creation of a reserve fund aimed at reducing more than $2 trillion in government expenditures, signaling an effort to balance increased defense funding with long-term savings.

The proposal also places a $1.5 trillion cap on tax legislation initiated by the Senate’s tax-writing committee, effectively setting boundaries for future tax policy decisions. These fiscal targets are designed to align with the Republican majority’s broader legislative priorities.

Senate Budget Committee Chair Lindsey Graham praised the draft, stating, “Today is one of the most important steps toward ensuring the Republican majority fulfills its promise to the American people that we will secure our border, strengthen our national security, make President Trump’s tax cuts permanent, and reduce spending.”

The resolution is expected to face debate in the coming weeks, with lawmakers weighing its implications for both the economy and future federal programs. If adopted, it would shape the fiscal framework for the next decade and play a crucial role in ongoing budget negotiations.