H.R. 6957House118th Congress (2023-2025)In Committee

Debt-to-GDP Transparency and Stabilization Act

Introduced January 11, 2024

AI-Generated Summary

Updated January 20, 2026 at 2:01 PM UTC

The Debt-to-GDP Transparency and Stabilization Act requires that the President’s annual budget submission to Congress, as well as any concurrent budget resolution, include the ratio of the United States public debt to its estimated gross domestic product. The goal is to make fiscal health more transparent and support better budget decisions. It affects the executive branch’s budget process and the congressional budget resolution procedure.

Key Provisions

  • Amends the budget law to add a requirement that the President’s budget submission list the public‑debt‑to‑GDP ratio.
  • Amends the Congressional Budget and Impoundment Control Act so that any concurrent budget resolution must also include the public‑debt‑to‑GDP ratio for the upcoming fiscal year.

Legislative Activity

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3 earlier actions
HouseCommittee Latest Action

Ordered to be Reported by Voice Vote.

January 18, 2024

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HouseIntro Referral

Introduced in House

January 11, 2024

HouseIntro Referral

Referred to the Committee on the Budget, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

January 11, 2024

HouseCommittee

Committee Consideration and Mark-up Session Held

January 18, 2024

HouseCommittee

Ordered to be Reported by Voice Vote.

January 18, 2024

Floor Debate

1 member

What members said about H.R. 6957 on the floor

1 Democrat
John B. Larson
Rep. John B. LarsonD-CT-1 · Jan 18, 2024

Mr. Speaker, as we sit here currently, the Budget Committee is undertaking a matter of grave concern. I include in the Record letters from both the AFGE and the AFL-CIO with respect to the…

Bill Text

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Introduced in HouseIssued January 11, 2024

I

118th CONGRESS

2d Session

H. R. 6957

IN THE HOUSE OF REPRESENTATIVES

January 11, 2024

Mr. Smucker (for himself and Mr. Golden of Maine) introduced the following bill; which was referred to the Committee on the Budget, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

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.

1.

Short title

This Act may be cited as the Debt-to-GDP Transparency and Stabilization Act.

2.

Ratio of public debt to GDP included in President’s budget submission and concurrent resolution on the budget

(a)

President’s budget submission

Section 1105(a) of title 31, United States Code, is amended by adding at the end the following:

(40)

the ratio of the public debt to the estimated gross domestic product.

.

(b)

Concurrent resolution on the budget

Section 301(a) of the Congressional Budget and Impoundment Control Act of 1974 is amended—

(1)

in paragraph (6), by striking and at the end;

(2)

in paragraph (7), by striking the period at the end and inserting ; and; and

(3)

by adding at the end the following:

(8)

the ratio of the public debt to the estimated gross domestic product for the fiscal year beginning on October 1 of such year.

.