The bill mandates the Secretary of the Treasury to report to Congress before increasing the debt limit, detailing the public debt state, reduction proposals, and fiscal program projections. It also requires progress reports on the President's proposals and offers public access to submitted reports. Additionally, it grants access to specified Treasury data upon request from the Committees on Ways and Means and Finance. These provisions aim to enhance transparency and accountability in managing the public debt and its impact on fiscal health and economic stability.