HR. 402In Committee
DEBT Act
Require the Treasury Secretary to explain planned extraordinary debt limit measures and related costs to the tax-writing committees before the debt limit is reached or default prevention steps begin
Plain-English overview
What this bill does
Require the Treasury Secretary to explain planned extraordinary debt limit measures and related costs to the tax-writing committees before the debt limit is reached or default prevention steps begin
Key points
- Require Treasury testimony
- Require explanation of extraordinary measures
- Require reporting on administrative costs
Current status
Where it stands
Status
In Committee
Latest action
2025-01-14 — Referred to the House Committee on Ways and Means.
Related context
Topics and policy areas
undefinedBudget deficits and national debtCongressional oversightCongressional-executive branch relationsDepartment of the TreasuryEconomics and Public FinanceHouse Committee on Ways and MeansSenate Committee on Finance