3.0.0 402 2026-07-18T00:04:27Z 2026-07-18T00:04:27Z House H HR 2025-01-14 119 https://www.congress.gov/bill/119th-congress/house-bill/402 [Congressional Record Volume 171, Number 7 (Tuesday, January 14, 2025)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. SCHWEIKERT:H.R. 402.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 18 of the U.S. Constitution:[Page H149]]]> hswm00 Ways and Means Committee House Standing Referred To 2025-01-14T15:02:50Z 2025-01-14 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2025-01-14 Introduced in House IntroReferral Intro-H 9 Library of Congress 2025-01-14 Introduced in House IntroReferral 1000 9 Library of Congress S001183 Rep. Schweikert, David [R-AZ-1] David Schweikert R AZ 1 N Economics and Public Finance Budget deficits and national debt 2025-03-06T16:48:51Z Congressional oversight 2025-03-06T16:49:13Z Congressional-executive branch relations 2025-03-06T16:48:56Z Department of the Treasury 2025-03-06T16:49:19Z House Committee on Ways and Means 2025-03-06T16:49:00Z Senate Committee on Finance 2025-03-06T16:49:06Z Economics and Public Finance 2025-02-27T13:47:46Z 00 2025-01-14 Introduced in House 2025-02-27T14:43:11Z Debt Explanation Before Taxwriters Act or the DEBT Act

This bill requires the Secretary of the Treasury to appear before the House Ways and Means Committee and the Senate Finance Committee before the federal debt limit is reached or extraordinary measures are taken to prevent the United States from defaulting on its obligations.

The term extraordinary measures generally refers to a series of actions that the Department of the Treasury may implement to allow the United States to borrow additional funds without exceeding the debt limit. The measures generally include suspensions or delays of debt sales and suspensions or redemptions of investments in certain government funds.

The bill requires the Secretary of the Treasury to appear before the committees to provide a detailed explanation of (1) the extraordinary measures that Treasury will take and the administrative costs of taking the measures, and (2) any reversal of such measures and any other changes in the funding of federal government obligations.

]]> DEBT Act Display Title 45 DEBT Act 2026-07-18T00:04:27Z Official Title as Introduced 6 To amend title 31, United States Code, to require the Secretary of the Treasury to appear before Congress before the debt limit is reached or extraordinary measures are taken to prevent default. 2026-07-18T00:04:27Z Introduced in House IH Short Title(s) as Introduced 101 DEBT Act 2025-02-08T05:53:19Z Introduced in House IH Short Title(s) as Introduced 101 Debt Explanation Before Taxwriters Act 2025-02-08T05:53:19Z Introduced in House IH Introduced in House 2025-01-14T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-119hr402ih/xml/BILLS-119hr402ih.xml 2025-01-14 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.