Debt Solution and Accountability Act

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6895 Introduced in House (IH)]

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119th CONGRESS
  1st Session
                                H. R. 6895

 To provide further means of accountability with respect to the United 
             States debt and promote fiscal responsibility.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           December 18, 2025

Mr. Smucker (for himself and Mr. Suozzi) introduced the following bill; 
         which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To provide further means of accountability with respect to the United 
             States debt and promote fiscal responsibility.

    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 Solution and Accountability 
Act''.

SEC. 2. SECRETARY OF THE TREASURY REPORT TO CONGRESS BEFORE DEBT LIMIT 
              IS INCREASED.

    (a) In General.--Subchapter II of chapter 31 of title 31, United 
States Code, is amended by adding at the end the following:
``Sec. 3131. Report before debt limit is increased
    ``(a) In General.--On each specified reporting date, the Secretary 
of the Treasury shall submit a report to the Committee on Ways and 
Means of the House of Representatives, the Committee on Appropriations 
of the House of Representatives, the Committee on the Budget of the 
House of Representatives, the Committee on Finance of the Senate, the 
Committee on Appropriations of the Senate, and the Committee on the 
Budget of the Senate consisting of the following:
            ``(1) Debt report.--A report on the state of the public 
        debt, including--
                    ``(A) the historical levels of the debt, current 
                amount and composition of the debt, and future 
                projections of the debt;
                    ``(B) the drivers and composition of future debt; 
                and
                    ``(C) how the United States will meet debt 
                obligations, including principal and interest.
            ``(2) Statement of intent.--A detailed explanation of--
                    ``(A) proposals of the President to reduce or slow 
                the growth of the public debt in the short term (the 
                current and following three fiscal years), medium term 
                (approximately five to nine fiscal years), and long 
                term (approximately ten to twenty-five fiscal years), 
                and proposals of the President to lower the debt-to-
                gross domestic product ratio;
                    ``(B) the impact (including the impact on future 
                Government spending, debt service, and the position of 
                the United States dollar as the international reserve 
                currency) of increasing the debt limit and of leaving 
                the debt limit unchanged; and
                    ``(C) projections of fiscal health and 
                sustainability of major direct-spending entitlement 
                programs (including Social Security, Medicare, and 
                Medicaid).
    ``(b) Progress Report.--Not more than 180 days after any date on 
which any increase, or suspension, of the limitation imposed under 
section 3101 takes effect, the Secretary of the Treasury shall submit a 
detailed report on the progress of implementing all proposals of the 
President described under subsection (a)(2)(A).
    ``(c) Specified Reporting Date.--For purposes of this section, the 
term `specified reporting date' means--
            ``(1) any date on which the debt subject to limit under 
        section 3101 reaches 99.5 percent of the limitation imposed 
        under such section; and
            ``(2) with respect to any period for which the limitation 
        imposed under section 3101 is suspended, the date which is 1 
        month before the expiration of such suspension.
    ``(d) Public Access to Information.--The Secretary of the Treasury 
shall furnish publicly accessible links on the web page of the 
Department of the Treasury to each report submitted under this section. 
Such links shall be available for not less than the 6-month period 
following the date of such submission.''.
    (b) Clerical Amendment.--The table of analysis for chapter 31 of 
title 31, United States Code, is amended by inserting after the item 
relating to section 3130 the following:

``3131. Report after debt limit is increased.''.

SEC. 3. ACCESS TO CERTAIN TREASURY DEPARTMENT DATA.

    Not later than thirty days after receipt of a written request from 
the Chairman of the Committee on Ways and Means of the House of 
Representatives or the Committee on Finance of the Senate, the 
Secretary of the Treasury shall provide to the requesting Chairman 
financial and economic data relevant to determining the amount of the 
public debt of the United States, including--
            (1) cash flow and debt transaction information used in 
        preparing the Daily Treasury Statement, including current 
        balances, receipts, and payments;
            (2) operating cash balance projections; and
            (3) relevant information regarding any extraordinary 
        measures taken to prevent the public debt from exceeding the 
        limitation imposed by section 3101 of title 31, United States 
        Code.
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