HB6957: Debt-to-GDP Transparency and Stabilization Act
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
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.
Plain-language summary
This bill requires the President's annual budget proposal and Congress's concurrent budget resolution to include the ratio of public debt to GDP (gross domestic product, the total value of goods and services produced in the US). Public debt means money the federal government has borrowed and owes. The debt-to-GDP ratio shows how large the national debt is compared to the nation's economic output. The bill aims to make budget documents more transparent about the government's debt situation. It is currently in the introduction stage and has not yet been assigned to a .
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HB6957: Debt-to-GDP Transparency and Stabilization Act
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Sponsors
Lloyd Smucker
Primary SponsorCo-sponsors (26)
Jared Golden
Chuck Edwards
Brian Fitzpatrick
Dean Phillips
Ralph Norman