Debt-to-GDP Transparency and Stabilization Act

Bill: 118-s-4659
Sponsor: full_name: Sen. Braun, Mike [R-IN]
Introduced: 2024-07-10
Policy area: Economics and Public Finance
Latest action: action_date: 2024-07-10
text: Read twice and referred to the Committee on the Budget.

Summaries:
action_date: 2024-07-10
action_desc: Introduced in Senate
text: <p><strong>Debt-to-GDP Transparency and Stabilization Act</strong></p><p>This bill requires the President's annual budget and congressional budget resolutions to include the ratio of the public debt to the estimated gross domestic product.&nbsp;</p>

tv_txt: II 118th CONGRESS 2d Session S. 4659 IN THE SENATE OF THE UNITED STATES July 10, 2024 Mr. Braun (for himself, Mr. Marshall , Mr. Scott of Florida , and Mr. Tillis ) introduced the following bill; which was read twice and referred to the Committee on the Budget 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 ( 2 U.S.C. 632(a) ) 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. .