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H.R. 6895: Debt Solution and Accountability Act
119th Congress · introduced 2025-12-18 · Economics and Public Finance · Latest: Referred to the House Committee on Ways and Means.
federal
Official title
Debt Solution and Accountability Act
Plain summary
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 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 include the 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; 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 or slow the growth of the debt, the impact of increasing the debt limit and of leaving the debt limit unchanged, and projections 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.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
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Official text
Debt Solution and Accountability Act
Source: Congressional Research Service summary (Introduced in House)
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Officials and money
Sponsor: Rep. Smucker, Lloyd [R-PA-11] · 8 cosponsors
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Words on this page, explained (2)
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
- Securities
- Financial investments that can be bought and sold, such as stocks and bonds.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-119hr6895.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/119/hr>
Record fed-us-cong119-hr6895 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills