arrow_back Back to App

Debt Transparency: Mandating Debt-to-GDP Ratio in Federal Budget Submissions.

This law mandates that both the President and Congress must include the ratio of public debt to the estimated Gross Domestic Product (GDP) when presenting the annual budget. While it doesn't directly change your taxes or benefits, it provides citizens and policymakers with a clearer, standardized view of the nation's financial health, potentially fostering more responsible fiscal planning.
Key points
Requires the President's annual budget submission to Congress to include the public debt-to-GDP ratio.
Mandates Congress to also include this ratio in its concurrent budget resolution, increasing financial transparency.
The goal is to better inform the public and decision-makers about the national debt burden relative to the size of the economy.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_S_4659
Sponsor: Sen. Braun, Mike [R-IN]
Process start date: 2024-07-10
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
AI work logs for this document launch

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_S_4659.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-07-10.

What are the main provisions?

Key points include:

  • Requires the President's annual budget submission to Congress to include the public debt-to-GDP ratio.
  • Mandates Congress to also include this ratio in its concurrent budget resolution, increasing financial transparency.
  • The goal is to better inform the public and decision-makers about the national debt burden relative to the size of the 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 Sen. Braun, Mike [R-IN].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy