HR 7808
Debt-to-GDP Transparency and Stabilization Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill aims to increase transparency around the nation’s debt by requiring the President’s budget and any budget resolutions submitted to Congress to include specific debt-to-GDP ratios. It mandates the inclusion of both the ratio of the public debt to GDP and the ratio of the budget surplus or deficit to GDP. This will provide Congress and the public with clearer data on the government’s financial situation. The bill also updates the Congressional Budget and Impoundment Control Act to require these ratios in budget documents.
Key provisions
- Requires the President’s annual budget to include the ratio of the public debt to GDP.
- Requires the President’s annual budget to include the ratio of the surplus or deficit to GDP.
- Requires congressional budget resolutions to include the ratio of the public debt to GDP.
- Requires congressional budget resolutions to include the ratio of the surplus or deficit to GDP.
- Amends Title 31 of the United States Code to incorporate the debt-to-GDP ratios.
- Amends the Congressional Budget and Impoundment Control Act of 1974 to include the debt-to-GDP ratios in budget documents.
Who is affected
- The President
- Congress
- The public
- Government agencies
- Budget analysts
Notable changes
- Adds requirements for debt-to-GDP ratios to be included in the President’s budget submission.
- Adds requirements for debt-to-GDP ratios to be included in congressional budget resolutions.
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119th CONGRESS — 2d Session
H. R. 7808
IN THE HOUSE OF REPRESENTATIVES
A BILL
To require that the President’s annual budget submission to Congress and any concurrent resolution on the budget include the ratio of the public debt to the estimated gross domestic product of the United States, and for other purposes.
This Act may be cited as the Debt-to-GDP Transparency and Stabilization Act
.
in paragraph (10), by striking the period at the end and inserting , including the ratio of the public debt to the estimated gross domestic product.
; and
by adding at the end the following:
in paragraph (6), by striking and
at the end;
in paragraph (7), by striking the period at the end and inserting a semicolon; and
by adding at the end the following: