Debt Solution and Accountability Act
- Sponsor
- Rep. Smucker, Lloyd [R-PA-11]
- Committees
- Ways and Means Committee (primary)
- Last action
- Dec 18, 2025
Bottom line
This bill aims to increase transparency and accountability in federal debt management by requiring detailed reports and data sharing before and after debt limit adjustments.
What it actually does
This bill mandates the Secretary of the Treasury to submit comprehensive reports to Congress on the state of the public debt and the President's proposals for debt reduction before the debt limit is increased or suspended. It also requires a progress report on these proposals after any debt limit adjustment. Additionally, it ensures Congressional access to specific Treasury financial data related to public debt and extraordinary measures.
Proponents argue
Supporters argue this bill enhances fiscal responsibility by forcing greater transparency and accountability from the executive branch regarding the national debt. They contend that requiring detailed plans and progress reports will encourage proactive measures to address debt growth and provide Congress with crucial information for informed decision-making on the debt limit.
Opponents contend
Critics might argue that while transparency is generally positive, this bill could politicize the debt limit further by creating additional procedural hurdles and opportunities for partisan grandstanding, potentially increasing the risk of default. They might also contend that the reporting requirements could impose an undue administrative burden on the Treasury Department without guaranteeing actual debt reduction.
The bill is concise and easily digestible, allowing readers to quickly grasp its core intent and provisions.
Section 2(a), adding 31 U.S.C. Sec. 3131(a)
Mandated Debt Report and Presidential Statement of Intent
This provision requires the Secretary of the Treasury to submit a detailed report to key Congressional committees when the national debt approaches its statutory limit (99.5% of the limit) or one month before a debt limit suspension expires. The report must cover historical, current, and projected debt levels, the drivers of future debt, and how the U.S. plans to meet its obligations. It also requires the President's proposals to reduce debt growth in the short, medium, and long term, and an analysis of the impacts of changing or not changing the debt limit, along with projections for major entitlement programs.
Supporters argue
Supporters argue this provision ensures Congress receives critical, forward-looking financial information directly from the executive branch, enabling more informed and responsible decisions regarding the nation's borrowing authority. It forces the President to articulate a clear debt reduction strategy.
Critics contend
Critics might argue that this provision adds a bureaucratic step to an already contentious process, potentially delaying necessary debt limit actions and increasing the risk of economic instability. They may also contend that the information requested is already largely available through existing channels or would be subject to political spin.
Tradeoffs
The provision balances the desire for greater transparency and accountability in fiscal policy with the potential for increased administrative burden and the risk of further politicizing routine debt limit adjustments.
Section 2(a), adding 31 U.S.C. Sec. 3131(b)
Post-Debt Limit Adjustment Progress Report
This section requires the Secretary of the Treasury to submit a detailed report within 180 days after any increase or suspension of the debt limit takes effect. This report must specifically detail the progress made in implementing the President's proposals for reducing or slowing the growth of the public debt, as outlined in the initial report required by subsection (a)(2)(A).
Section 2(a), adding 31 U.S.C. Sec. 3131(d)
Public Transparency of Debt Reports
This provision mandates that the Secretary of the Treasury must make all reports submitted under this new section publicly accessible on the Department of the Treasury's website. These reports must remain available for at least six months following their submission date, ensuring public transparency regarding the nation's debt and the government's plans to manage it.
Section 3
Enhanced Congressional Access to Treasury Financial Data
This section requires the Secretary of the Treasury to provide specific financial and economic data to the Chairmen of the House Ways and Means Committee or Senate Finance Committee within 30 days of a written request. This data includes cash flow and debt transaction information used for the Daily Treasury Statement, operating cash balance projections, and details on any extraordinary measures taken to avoid breaching the debt limit.