Debt Transparency and Accountability Act

Summary

Debt Transparency and Accountability Act This bill requires the Secretary of the Treasury to provide a report to Congress prior to any date on which Treasury anticipates the public debt will reach the statutory limit. The Secretary must appear before the House Ways and Means Committee and the Senate Finance Committee to submit a debt report including: (1) historic, current, and projected levels of debt; (2) the drivers and composition of future debt; and (3) how the United States will meet debt obligations if the debt limit is raised. The Secretary must also provide a detailed explanation of: proposals to reduce the debt and a progress report on implementing them; the impact an increased debt limit will have on future government spending, debt service, and the position of the U.S. dollar as the international reserve currency; projections of the fiscal health and sustainability of major entitlement programs; any extraordinary measures Treasury intends to take to fund federal government obligations if the debt limit is not raised and projections of the administrative cost and duration of the measures. Treasury must make specified information required by this bill available to the public on its website. Upon request, Treasury must submit to Congress specified financial and economic data relevant to determining the amount of the public debt.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 13 January 2017

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 13 January 2017

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 13 January 2017

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.