Debt Solution and Accountability Act
- Bill Number
- H.R. 6895
- Origin Chamber
- House
- Congress
- 119th Congress, Session 1
- Policy Area
- Economics and Public Finance
- Status
- Introduced
- Latest Action
- 2025-12-18: Referred to the House Committee on Ways and Means.
- Last Updated
- 2026-06-24T08:09:49Z
AI-Generated Summary
Purpose of the Legislation
The "Debt Solution and Accountability Act" (H.R. 6895) aims to increase transparency and oversight of the U.S. public debt by requiring detailed reports from the Department of the Treasury before any increase or suspension of the federal debt limit. It seeks to promote fiscal responsibility by mandating analysis of debt trends, presidential plans to manage debt, and the broader economic effects of debt decisions.
Key Provisions
- Treasury Reporting Requirement (New Section 3131 of Title 31, U.S. Code):
- The Secretary of the Treasury must submit reports to key congressional committees (House Ways and Means, Appropriations, Budget; Senate Finance, Appropriations, Budget) on "specified reporting dates."
- Reports include:
- A "debt report" covering historical and current debt levels, future projections, key drivers of debt growth, and plans to meet debt payments (principal and interest).
- A "statement of intent" detailing the President's proposals to reduce or slow debt growth over short-term (current and next three fiscal years), medium-term (five to nine years), and long-term (ten to twenty-five years) periods; strategies to lower the debt-to-GDP ratio (a measure of debt relative to the size of the U.S. economy); impacts of raising or not raising the debt limit on government spending, debt costs, and the U.S. dollar's role as the world's main reserve currency; and projections for the financial health of major entitlement programs like Social Security, Medicare, and Medicaid.
- A follow-up "progress report" must be submitted no later than 180 days after any debt limit increase or suspension takes effect, outlining implementation of the President's debt-reduction proposals.
- "Specified reporting dates" are defined as when public debt reaches 99.5% of the current limit or one month before a debt limit suspension ends.
- All reports must be publicly accessible via links on the Treasury Department's website for at least six months.
- Access to Treasury Data (Section 3):
- Within 30 days of a written request from the Chair of the House Ways and Means Committee or Senate Finance Committee, the Secretary must provide relevant financial and economic data on public debt, including:
- Cash flow and debt transaction details from the Daily Treasury Statement (a daily summary of government finances).
- Projections of operating cash balances.
- Information on any "extraordinary measures" (temporary actions, like delaying payments, to avoid breaching the debt limit).
Significant Changes to Existing Law
- Amends Subchapter II of Chapter 31, Title 31, U.S. Code (which governs the public debt limit under section 3101) by adding a new section 3131, requiring mandatory pre-debt-limit-increase reports—a provision not previously required.
- Updates the table of contents for Chapter 31 to include the new section.
- Introduces enforceable timelines for data access to congressional leaders, expanding beyond current informal or ad-hoc information sharing.
Potential Impacts
- On Government Agencies: The Treasury Department will face increased administrative burdens from preparing detailed, multi-faceted reports and responding to data requests, potentially requiring more resources for analysis and public dissemination. Congressional committees will gain timely, structured information to inform debt limit debates.
- On Citizens: Enhances public transparency through website access to reports, allowing greater awareness of debt trends, fiscal plans, and entitlement program sustainability, which could influence public discourse on government spending and taxes.
- On International Relations: By addressing the U.S. dollar's reserve currency status and debt sustainability, the law could bolster global confidence in U.S. finances if reports demonstrate credible fiscal plans; failure to implement proposals might raise concerns among international investors and trading partners about U.S. economic stability.
Main Stakeholders Affected
- Congress: Primary beneficiaries through required reports and data access, enabling more informed votes on debt limit increases.
- Executive Branch (President and Treasury Department): Must develop and report on debt-reduction strategies, with progress tracked, increasing accountability for fiscal policy.
- U.S. Public and Taxpayers: Indirectly affected via greater visibility into how debt decisions impact spending programs, interest costs, and economic health.
- Entitlement Program Beneficiaries: Reports on Social Security, Medicare, and Medicaid could highlight sustainability issues, affecting retirees, healthcare users, and low-income individuals.
- Financial Markets and International Investors: Stakeholders in U.S. debt securities, who may react to the transparency and fiscal proposals outlined in reports.
Notable Legal, Constitutional, or Political Implications
- Legal: Strengthens congressional oversight of the debt limit process without altering the constitutional authority of Congress to borrow money (Article I, Section 8) or the President's role in executing laws. The mandatory reporting and data access could be enforced through congressional subpoenas if ignored, but it does not impose penalties for non-compliance.
- Constitutional: Aligns with separation of powers by requiring executive branch reporting to Congress on fiscal matters, promoting checks and balances without encroaching on executive discretion in debt management.
- Political: Could politicize debt limit debates by forcing public disclosure of presidential fiscal plans, potentially pressuring administrations to propose spending cuts or revenue measures. It may reduce brinkmanship in debt ceiling negotiations by providing data-driven context, but risks partisan disputes over report content or implementation progress. No direct changes to debt limit mechanics, so it avoids immediate default risks while encouraging long-term fiscal discipline.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Cosponsors (8)
Rep. Suozzi, Thomas R. [D-NY-3], Rep. Edwards, Chuck [R-NC-11], Rep. Grothman, Glenn [R-WI-6], Rep. Smith, Adrian [R-NE-3], Rep. Case, Ed [D-HI-1], Rep. Cline, Ben [R-VA-6], Rep. Schweikert, David [R-AZ-1], Rep. McDowell, Addison P. [R-NC-6]
Recent Actions
- 2025-12-18: Referred to the House Committee on Ways and Means.
- 2025-12-18: Introduced in House
- 2025-12-18: Introduced in House
Bill Versions
- Debt Solution and Accountability Act — issued 2025-12-18 — PDF (5 pages)