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Increased Transparency: Public Debt-to-GDP Ratio in Budget Submissions.

This act aims to enhance government financial transparency by requiring the President and Congress to include the public debt-to-GDP ratio in their annual budget documents. This will provide citizens with a clearer understanding of the nation's financial health and its potential economic impact, helping them assess economic stability.
Key points
The President's annual budget submission must include the public debt-to-GDP ratio.
Congress's budget resolutions will also be required to include this ratio, increasing data accessibility.
The goal is to improve public and policymaker understanding of debt's impact on the national economy.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_HR_6957
Sponsor: Rep. Smucker, Lloyd [R-PA-11]
Process start date: 2024-01-11
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Debt-to-GDP Transparency and Stabilization Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6957.

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 2024-01-11.

What are the main provisions?

Key points include:

  • The President's annual budget submission must include the public debt-to-GDP ratio.
  • Congress's budget resolutions will also be required to include this ratio, increasing data accessibility.
  • The goal is to improve public and policymaker understanding of debt's impact on the national economy.
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. Smucker, Lloyd [R-PA-11].

What is the latest detailed status?

The latest detailed status is: Ordered to be Reported by Voice Vote.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy Public Investments