# 119-hr-402: DEBT Act

119-hr-402, DEBT Act, is a 119th Congress bill sponsored by Rep. Schweikert, David [R-AZ-1] (R-AZ); status introduced; PRIA reads it as touching household money (as of 2026-09-21).

- Canonical: https://policyrisk.com/legislation/119-hr-402
- As of: 2026-09-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-402
- Congress: 119
- Title: DEBT Act
- Status: introduced
- Introduced: 2025-01-14
- Sponsor: Rep. Schweikert, David [R-AZ-1] (R-AZ)
- Cosponsors: 0
- Policy area: Economics and Public Finance
- Touches household money: yes
- Last recorded action: 2026-09-21

## Summary

**Requires the Treasury Secretary to brief the House Ways and Means and Senate Finance Committees 21–60 days before the public debt hits the legal limit or before using extraordinary measures.** The briefing would spell out which extraordinary measures Treasury plans to use, estimate the administrative costs of those steps, and explain any reversals or other changes in how federal obligations are funded. - Members of the House Ways and Means Committee and the Senate Finance Committee would receive a mandatory, detailed explanation and timeline of planned debt-limit actions and costs. - The Department of the Treasury would need to prepare in-person appearances and written cost estimates for any extraordinary measures, increasing reporting and planning duties. - Managers and participants in funds named by the bill, such as the Civil Service Retirement and Disability Fund, the Postal Service Retiree Health Benefits Fund, the Thrift Savings Fund, and the Government Securities Investment Fund, would get explicit notice about any planned suspensions, redemptions, or reinvestment changes.

## Provisions PRIA read

- Early Treasury briefing on debt limit: benefit, high. The bill would require the Treasury Secretary to brief Congress 21 to 60 days before the debt limit is expected to be hit or before using extraordinary measures. The briefing would explain the planned steps to keep paying bills and estimate their administrative costs. It would also explain how thos…

## Related bills

- 119-hr-7705: Tribal Tax and Investment Reform Act of 2026
- 119-hr-4895: Afghan Adjustment Act
- 119-hr-2025: Northeastern Arizona Indian Water Rights Settlement Act of 2025
- 119-hr-4206: CONNECT for Health Act of 2025
- 119-hr-3466: SMART Act
- 119-hr-7971: Taxpayer Experience Improvement Act

## Sources
- [119-hr-402 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/402)

## Related
- [119-hr-7705: Tribal Tax and Investment Reform Act of 2026](https://policyrisk.com/legislation/119-hr-7705)
- [119-hr-4895: Afghan Adjustment Act](https://policyrisk.com/legislation/119-hr-4895)
- [119-hr-2025: Northeastern Arizona Indian Water Rights Settlement Act of 2025](https://policyrisk.com/legislation/119-hr-2025)
- [119-hr-4206: CONNECT for Health Act of 2025](https://policyrisk.com/legislation/119-hr-4206)
- [119-hr-3466: SMART Act](https://policyrisk.com/legislation/119-hr-3466)
- [119-hr-7971: Taxpayer Experience Improvement Act](https://policyrisk.com/legislation/119-hr-7971)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-402 (as of 2026-09-21).