Bill > HR737

This bill requires the Secretary of the Treasury to provide detailed reports about "extraordinary measures" when the U.S. government is approaching its debt limit, which are temporary financial maneuvers used to continue government funding when the statutory borrowing capacity is nearly exhausted. Specifically, the bill mandates three types of reports: first, a report 30 days before reaching the debt limit that describes the planned extraordinary measures, estimates their cost, and projects how long they can sustain government operations; second, daily reports while using these measures that list which specific measures were taken and how much money was transferred between accounts; and third, a report after the extraordinary measures period concluding with a summary of the measures used and their administrative costs. The bill defines extraordinary measures as including actions like suspending investments in various government funds, selling securities before maturity, and other financial maneuvers determined appropriate by the Treasury Secretary. These measures are typically used to prevent a government default by temporarily reallocating funds and avoiding breaching the legal debt ceiling. By requiring these transparent reports, the bill aims to provide Congress and the public with detailed information about the government's financial maneuvering during potential debt limit crises.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/737/all-info