Debt-to-GDP Transparency and Stabilization Act

Debt-to-GDP Transparency and Stabilization Act

This bill requires the President's annual budget and congressional budget resolutions to include the ratio of the public debt to the estimated gross domestic product. 

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6957 Introduced in House (IH)]

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118th CONGRESS
  2d Session
                                H. R. 6957

 To require that the President's annual budget submission to Congress 
 and any concurrent resolution on the budget include the ratio of the 
   public debt to the estimated gross domestic product of the United 
                    States, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 11, 2024

   Mr. Smucker (for himself and Mr. Golden of Maine) introduced the 
following bill; which was referred to the Committee on the Budget, and 
in addition to the Committee on Rules, for a period to be subsequently 
   determined by the Speaker, in each case for consideration of such 
 provisions as fall within the jurisdiction of the committee concerned

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                                 A BILL


 
 To require that the President's annual budget submission to Congress 
 and any concurrent resolution on the budget include the ratio of the 
   public debt to the estimated gross domestic product of the United 
                    States, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Debt-to-GDP Transparency and 
Stabilization Act''.

SEC. 2. RATIO OF PUBLIC DEBT TO GDP INCLUDED IN PRESIDENT'S BUDGET 
              SUBMISSION AND CONCURRENT RESOLUTION ON THE BUDGET.

    (a) President's Budget Submission.--Section 1105(a) of title 31, 
United States Code, is amended by adding at the end the following:
            ``(40) the ratio of the public debt to the estimated gross 
        domestic product.''.
    (b) Concurrent Resolution on the Budget.--Section 301(a) of the 
Congressional Budget and Impoundment Control Act of 1974 is amended--
            (1) in paragraph (6), by striking ``and'' at the end;
            (2) in paragraph (7), by striking the period at the end and 
        inserting ``; and''; and
            (3) by adding at the end the following:
            ``(8) the ratio of the public debt to the estimated gross 
        domestic product for the fiscal year beginning on October 1 of 
        such year.''.
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