HR6895Referred to Committee

Debt Solution and Accountability Act

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-12-18
Introduced
8
Cosponsors
HR
ⓘ
Type

Sponsor

Lloyd Smucker
Lloyd Smucker
Republican · PA · Representative
Votes with party: 98.5% (589 recorded votes)

Full profile: /officials/S001199

Source: Congress.gov · FEC

Cosponsors (8)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Referred to the House Committee on Ways and Means.

2025-12-18

Source: Congress.gov

Committee Activity

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Plain-English 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.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

Economics and Public Finance
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