Treasury would share more details about the national debt with Congress and the public.
This bill would make the Treasury Department provide detailed reports on the national debt and plans to reduce it before the government's borrowing limit is raised. These reports would be shared with Congress and made public online. It aims to give more information about the country's financial health.
Today, the Treasury Department is not required by law to provide specific reports on the national debt or presidential debt reduction plans before the debt limit is increased. If this bill becomes law, the Treasury would have to submit detailed reports to Congress and the public when the debt reaches 99.5% of its limit or a month before a suspension ends. It would also need to provide progress reports within 180 days after any debt limit increase or suspension.
HR 6895 · 119th Congress · AI Summary by gemini-2.5-flash · 8/10
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