Legis Daily

Debt Solution and Accountability Act

USA118th CongressHR-1265| House 
| Updated: 2/28/2023
Lloyd Smucker

Lloyd Smucker

Republican Representative

Pennsylvania

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Debt Solution and Accountability Act This bill requires the Department of the Treasury to submit to Congress a debt report and a statement of intent within 60 days of an increase in the public debt limit. The debt report must include the historic, current, and projected levels of debt; the drivers and composition of future debt; and how the United States will meet debt obligations. The statement of intent must include a detailed explanation of proposals of the President to reduce the debt; the impact the increased debt limit will have on future government spending, debt service, and the position of the U.S. dollar as the international reserve currency; and projections of the fiscal health and sustainability of major entitlement programs (including Social Security, Medicare, and Medicaid). Treasury must make the information required by this bill available to the public on its website. Upon request, Treasury must submit to Congress specified financial and economic data relevant to determining the amount of the public debt.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 116-3946
Debt Solution and Accountability Act

Bill from Previous Congress

HR 117-2110
Debt Solution and Accountability Act
Feb 28, 2023
Introduced in House
Feb 28, 2023
Referred to the House Committee on Ways and Means.
  • Bill from Previous Congress

    HR 116-3946
    Debt Solution and Accountability Act


  • Bill from Previous Congress

    HR 117-2110
    Debt Solution and Accountability Act


  • February 28, 2023
    Introduced in House


  • February 28, 2023
    Referred to the House Committee on Ways and Means.

Economics and Public Finance

Budget deficits and national debtCongressional oversightGovernment information and archivesInternational monetary system and foreign exchangeMedicaidMedicareSocial security and elderly assistance

Debt Solution and Accountability Act

USA118th CongressHR-1265| House 
| Updated: 2/28/2023
Debt Solution and Accountability Act This bill requires the Department of the Treasury to submit to Congress a debt report and a statement of intent within 60 days of an increase in the public debt limit. The debt report must include the historic, current, and projected levels of debt; the drivers and composition of future debt; and how the United States will meet debt obligations. The statement of intent must include a detailed explanation of proposals of the President to reduce the debt; the impact the increased debt limit will have on future government spending, debt service, and the position of the U.S. dollar as the international reserve currency; and projections of the fiscal health and sustainability of major entitlement programs (including Social Security, Medicare, and Medicaid). Treasury must make the information required by this bill available to the public on its website. Upon request, Treasury must submit to Congress specified financial and economic data relevant to determining the amount of the public debt.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 116-3946
Debt Solution and Accountability Act

Bill from Previous Congress

HR 117-2110
Debt Solution and Accountability Act
Feb 28, 2023
Introduced in House
Feb 28, 2023
Referred to the House Committee on Ways and Means.
  • Bill from Previous Congress

    HR 116-3946
    Debt Solution and Accountability Act


  • Bill from Previous Congress

    HR 117-2110
    Debt Solution and Accountability Act


  • February 28, 2023
    Introduced in House


  • February 28, 2023
    Referred to the House Committee on Ways and Means.
Lloyd Smucker

Lloyd Smucker

Republican Representative

Pennsylvania

Ways and Means Committee

Economics and Public Finance

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Budget deficits and national debtCongressional oversightGovernment information and archivesInternational monetary system and foreign exchangeMedicaidMedicareSocial security and elderly assistance