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Reforming Fiscal Toolkit Act: Targeting Public Debt to GDP Ratio

This act introduces new procedures for Congress to set and meet a target ratio of public debt to gross domestic product. The goal is to improve national financial management, potentially impacting economic stability and future tax burdens on citizens. If Congress fails to agree, a special committee will be established to propose legal changes.
Key points
Congress will be required to include a target public debt to GDP ratio in the budget resolution, aiming for more responsible financial management.
If Congress fails to meet the debt reduction targets, a special joint committee will be formed to recommend necessary legal changes.
These changes could influence future government spending and potentially impact taxes, benefits, or public services to achieve debt targets.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_HR_915
Sponsor: Rep. Burchett, Tim [R-TN-2]
Process start date: 2021-02-08
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

RAFT Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_915.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-02-08.

What are the main provisions?

Key points include:

  • Congress will be required to include a target public debt to GDP ratio in the budget resolution, aiming for more responsible financial management.
  • If Congress fails to meet the debt reduction targets, a special joint committee will be formed to recommend necessary legal changes.
  • These changes could influence future government spending and potentially impact taxes, benefits, or public services to achieve debt targets.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Burchett, Tim [R-TN-2].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Economy