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.
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
# HR 7808 Summary **What the Bill Would Do** HR 7808 would require the President to include the debt-to-GDP ratio in annual budget submissions to Congress. The debt-to-GDP ratio is a key economic metric that shows how much the federal government owes compared to the total value of goods and services the country produces in a year. Essentially, this bill mandates that budget documents include this specific measurement to give lawmakers and the public a clearer picture of the nation's fiscal health. **Who It Affects and Key Provisions** The bill primarily affects Congress, the President's administration, and ultimately taxpayers and citizens who monitor federal finances. By requiring this metric in official budget documents, the bill aims to make debt comparisons more transparent and easier to understand.
The measure is relatively straightforward—it's a disclosure requirement rather than a spending or tax policy change. **Current Status** HR 7808 is currently in committee, meaning it has been introduced but has not yet advanced to a full House vote. The bill was sponsored by Representative Lloyd Smucker (R-PA). No additional action has been taken at this time.
Latest Action
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.