Debt Solution and Accountability Act
Sponsored By: Representative Smucker, Lloyd [R-PA-11]
Introduced
Summary
Creates mandatory, public debt reports tied to the debt limit. It would require comprehensive accounting of current and projected public debt plus a statement of intent with short, medium, and long term plans to reduce debt and lower the debt to GDP ratio.
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- Lawmakers: Designated tax and budget committee chairs would receive detailed reports on specified reporting dates and could request Treasury cash-flow and debt transaction data, which Treasury must provide within 30 days.
- Treasury and the public: Treasury would post each report on its website with links kept for at least six months. Reports must detail debt composition, drivers, projections, and plans to meet principal and interest payments.
- Seniors and program beneficiaries: Reports must include projections of the fiscal health of Social Security, Medicare, and Medicaid and assess how raising or not raising the debt limit would affect future government spending and the U.S. dollar's international position.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
New Treasury debt reports to Congress
If enacted, the Treasury would send detailed debt reports to key House and Senate committees on each specified reporting date. A "specified reporting date" would be when public debt reaches 99.5% of the legal limit or one month before a suspension ends. The debt report would show past debt, current amount and composition, and future projections and drivers. The bill would also require a Statement of Intent with the President's plans to slow debt growth in the short term (current and next 3 fiscal years), medium term (~5–9 years), and long term (~10–25 years). That statement would include plans to lower the debt-to-GDP ratio and analysis of how raising or leaving the debt limit unchanged would affect spending, debt service, and the dollar. Treasury would post public links to each report for at least six months.
Treasury must provide debt data
If enacted, the Treasury would have 30 days to give certain committee chairs requested debt and cash information. The data would include Daily Treasury Statement items like current balances, receipts, and payments, operating cash balance projections, and details on any extraordinary measures used to avoid breaching the debt limit. This would apply after a written request from the Chair of the House Ways and Means Committee or the Chair of the Senate Finance Committee.
Sponsors & CoSponsors
Sponsor
Smucker, Lloyd [R-PA-11]
PA • R
Cosponsors
Rep. Suozzi, Thomas R. [D-NY-3]
NY • D
Sponsored 12/18/2025
Edwards
NC • R
Sponsored 2/9/2026
Rep. Grothman, Glenn [R-WI-6]
WI • R
Sponsored 5/7/2026
Rep. Smith, Adrian [R-NE-3]
NE • R
Sponsored 5/12/2026
Rep. Case, Ed [D-HI-1]
HI • D
Sponsored 5/13/2026
Rep. Cline, Ben [R-VA-6]
VA • R
Sponsored 5/14/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov