This bill, the Debt-to-GDP Transparency and Stabilization Act, would change what information appears in the President's annual budget and in Congress's concurrent budget resolution. It would require those documents to show the ratio of the public debt to estimated gross domestic product (GDP). It would also require them to show the ratio of the surplus or deficit to estimated GDP. The bill amends section 1105(a) of title 31, United States Code, and section 301(a) of the Congressional Budget and Impoundment Control Act of 1974 to add these reporting items.
If the bill becomes law, the official budget the President sends to Congress and the concurrent budget resolution would include two numbers: public debt as a share of GDP, and surplus or deficit as a share of GDP. Those numbers would appear alongside the other budget tables and estimates you already see in those documents.
No publicly available information on estimated expenses. The text of the bill changes reporting requirements and does not include language that authorizes new spending.
No publicly available information.
No publicly available information.