Bill · H.R. 737· House(119-HR-737)
Extraordinary Measures Transparency Act
- Introduced
- 1/24/2025
- Last activity
- 1/24/2025 — Referred to the House Committee on Ways and Means.
- Sponsored by
- Zachary Nunn
- Cosponsors
- - 0 - 1
- Introduced
- In Committee
What this bill would do
The Extraordinary Measures Transparency Act requires the Secretary of the Treasury to issue specific reports regarding extraordinary measures used near the debt limit. If the debt limit is approaching in 30 days, the Secretary must report intended actions, estimated costs, and how long the measures will fund the government. During the use of these measures, the Secretary is required to issue daily reports to Congress detailing actions taken and money transferred. After the period ends, a final report must be issued containing a summary and administrative costs. This bill aims to increase transparency regarding how the Treasury manages debt limit issues.
Yes
Does this make what the government does easier for the public to see?+5
The bill requires specific reports on intended, daily, and final actions regarding extraordinary debt measures to increase public and congressional visibility.
Does this make the government pay for what it commits to?+3
The bill increases congressional oversight of how the Treasury manages debt limit extraordinary measures.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Increased Transparency of Debt Limit Actions: Under Section 2(a)(1), the Secretary must report 30 days before reaching the debt limit, providing a description of intended measures, estimated costs, and how long the measures will last. This provides early information regarding government actions.
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Real-time Oversight of Fund Transfers: Section 2(a)(2) requires a daily report while extraordinary measures are being used, which includes a list of specific measures taken and details on how much money was transferred and from which accounts.
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Accountability for Administrative Costs: Section 2(a)(3) requires a report after the period ends that includes a summary of measures used and the administrative costs, which includes personnel, consultant costs, and government fees as defined in Section 2(d)(1).
Potential Negative Impacts for People
- No specific negative impacts are mentioned in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Governance And Ideology
- Improves Government Transparency+5
- Economy And Finance
- Improves Fiscal Responsibility+3
- 1/24/2025
- Referred to the House Committee on Ways and Means.
- 1 Cosponsor added.
- Introduced in House
Donald DavisDemocrat · North Carolina