The "Debt Ceiling Reform Act" establishes a new process designed to prevent the United States from defaulting on its financial obligations by reforming the national debt ceiling. This legislation empowers the Secretary of the Treasury to certify to Congress the necessity of suspending the debt limit for up to two years. This certification must be made within a specific timeframe before an existing suspension expires or shortly after the bill's enactment if no suspension is currently in place. The primary goal is to ensure the government can continue to meet its existing commitments without interruption. Upon receiving the Secretary's certification, Congress has a 45-calendar-day window to pass a specific "joint resolution of disapproval." If Congress fails to enact this disapproval resolution within the allotted time, the debt ceiling is automatically suspended for the period specified by the Secretary, up to a maximum of two years. Following such a suspension, the debt limit is increased to accommodate the obligations incurred, but only for those necessary to fund existing commitments, explicitly prohibiting the Treasury from accumulating excess cash reserves. To facilitate timely action, the bill outlines expedited legislative procedures for the consideration of a joint resolution of disapproval in both the House of Representatives and the Senate. These procedures include strict reporting deadlines for committees, limited debate time, and prohibitions on amendments, ensuring a swift up-or-down vote. Additionally, the Act mandates that the President's annual budget submission include estimates of the debt held by the public, both gross and net of financial assets, as a percentage of the Gross Domestic Product.