The Debt Solution and Accountability Act requires the U.S. Treasury Secretary to give Congress detailed reports each time the national debt gets close to the legal borrowing limit (99.5% of the cap) or before a debt-limit suspension expires. These reports must cover the current amount and drivers of the debt, the administration's plans to slow its growth, and the fiscal health of Social Security, Medicare, and Medicaid. Treasury must also follow up within 180 days after any debt-limit increase to show progress on those plans, and must post the reports publicly online for at least six months. Separately, the bill requires Treasury to hand over specific debt-related financial data to the top lawmakers on the House Ways and Means and Senate Finance Committees within 30 days of a written request.
Transparency & Accountability
- Debt-limit reporting requirement — Treasury must report to Congress before the borrowing limit is reached
- Congressional data access — Treasury must provide debt data to committee chairs within 30 days of request
- Public reporting — Debt reports must be posted online for at least six months after submission
Congressional Summary
Debt Solution and Accountability ActThis bill requires the Department of the Treasury to submit to Congress a debt report and a statement of intent on (1) any date on which the debt subject to limit reaches 99.5% of the federal debt limit, and (2) the date that is one month before the expiration of a suspension of the debt limit. The debt report must includethe historical levels of the debt, current amount and composition of the debt, and future projections of the debt;the drivers and composition of future debt; andhow the United States will meet debt obligations.The statement of intent must include a detailed explanation ofproposals of the President to reduce or slow the growth of the debt,the impact of increasing the debt limit and of leaving the debt limit unchanged, andprojections of the fiscal health and sustainability of major direct-spending entitlement programs (including Social Security, Medicare, and Medicaid).Within 180 days after the effective date of an increase in or suspension of the debt limit, Treasury must submit to Congress a detailed report on the progress of implementing the President's proposals to reduce or slow the growth of the debt. 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.
Details
- Congress
- 119th
- Chamber
- House
- Status
- summarized
- Action
- Introduced in House
- Action Date
- 2025-12-18
- Date Added
- 2026-07-14
- Source
- Congress.gov →
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