Increased Transparency of Government Actions Regarding Debt Limit
This new law requires the Treasury Secretary to inform Congress about planned and taken actions when public debt approaches its limit. Citizens will gain better insight into how the government manages finances in challenging situations, potentially impacting trust in public institutions and understanding of economic decisions.
Key points
The government must provide advance notice of plans when debt nears its limit, including costs and projected duration of measures.
During the use of extraordinary measures, daily reports will be published detailing actions taken and from which accounts money was transferred.
After extraordinary measures conclude, the government will summarize the methods used and their administrative costs.
Introduced
Citizen Poll