The "Debt Explanation Before Taxwriters Act" or the “DEBT Act” requires the Secretary of the Treasury to appear before Congress before the U.S. national debt reaches its limit or if extraordinary measures are needed to prevent a default. Within 21 to 60 days of reaching the...
Simple Explanation
The DEBT Act wants to make sure that if the U.S. is getting close to running out of money, the person in charge of the country's finances must visit Congress to explain what's happening and how they plan to handle it, so everyone knows and can understand.