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Congress·In Committee·2 months ago

Congress would require Treasury debt reports and data access before debt limit increases

Also known as: Debt Solution and Accountability Act

Legislative Progress

✓ Filed
Review
House
Senate
President

Impacts

Mixed Impacts(14)
Social Security
Neutral
Medicare
Neutral
Medicaid
Neutral
Retiree
Neutral
Chronic Illness
Neutral
Disability Benefits
Neutral
Snap Food Stamps
Neutral
Housing Assistance
Neutral
Unemployment Benefits
Neutral
Veterans Benefits
Neutral
Child Tax Credit
Neutral
Federal Employee
Neutral
Homeowner
Neutral
Renter
Neutral

Key Points

  • Requires the Treasury Secretary to send Congress a detailed debt report when the U.S. is nearing the debt limit or a suspension is about to end.
  • Makes the report explain the President’s plans to reduce or slow debt growth in the short, medium, and long term, including goals for the debt compared to the economy.
  • Requires the report to spell out what could happen if Congress raises the debt limit versus leaving it unchanged, including effects on government costs and the dollar’s role worldwide.
  • Requires updates within 180 days after a debt limit increase or suspension starts, explaining progress on carrying out the President’s debt proposals.
  • Lets key tax-writing committee chairs request certain Treasury cash-flow and “extraordinary measures” data, and requires Treasury to post report links online for at least 6 months.
EconomyTaxes

Milestones

2 milestones2 actions
Dec 18, 2025House

Referred to the House Committee on Ways and Means.

Dec 18, 2025

Introduced in House

What Happens Next

Projected impacts based on AI analysis

Next time the debt subject to limit approaches the ceiling (hits 99.5%)

Treasury begins preparing to produce “near-debt-limit” reports when debt reaches 99.5% of the limit

When the debt limit is getting tight, the public should see Treasury links to reports explaining debt levels, what drives them, and how the U.S. plans to pay principal and interest

After each report is submitted to Congress

Treasury posts public web links to each required report for at least 6 months

You can more easily find and read the debt reports without digging through documents or paywalled sources

Within 30 days of a qualifying written request

Treasury must respond to a written request from the House Ways and Means Chair or Senate Finance Chair within 30 days

Congress can get detailed cash-flow and “extraordinary measures” information faster during debt-limit debates, which can affect how quickly negotiations move

Within 180 days after a debt-limit increase or suspension starts

Treasury files a progress report within 180 days after any debt-limit increase or suspension takes effect

The public and Congress get a follow-up on whether the President’s stated debt-reduction plans are actually being carried out after the debt limit is raised or paused

One month before the end of any debt-limit suspension period

If the debt limit is suspended, Treasury produces a report 1 month before the suspension ends

Right before the borrowing pause expires, there should be a clearer picture of the debt situation and what might happen if Congress does (or doesn’t) act again

Related News

2 articles
Financial Regulation News·about 2 months ago

Legislation calls for more transparency when federal government approaches debt limit

Covers introduction of H.R. 6895, the Debt Solution and Accountability Act, detailing Treasury reporting requirements tied to nearing the debt limit and data sharing on extraordinary measures.

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Congressman Lloyd Smucker (Press Release)·about 2 months ago

Smucker Introduces Debt Solution and Accountability Act

Announces introduction of H.R. 6895 with Rep. Tom Suozzi; summarizes Treasury report triggers (99.5% of limit or 1 month before suspension ends), required contents, and listed endorsements.

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Source Information

Document Type

Congressional Bill

Official Title

Debt Solution and Accountability Act

Bill NumberHR 6895
Congress119th Congress
ChamberHouse of Representatives
Latest ActionReferred to the House Committee on Ways and Means.

Sponsor

Cosponsors

(1)
D: 1

Analysis generated by AI. While we strive for accuracy, this should not be considered legal or professional advice. Always verify information with official government sources.