any indebtedness incurred by Ukraine pursuant to this section. (2) At any time after November 15, 2024, the President may, subject to congressional review provided by section 508, cancel up to 50 percent of the total indebtedness incurred by Ukraine or anticipated to be incurred by Ukraine with respect to economic assistance and related expenses made available under the headings Economic Support Fund and Assistance for Europe, Eurasia and Central Asia in title IV of this division. Upon completion of the congressional review process set forth in section 508, such cancellation shall be final and irrevocable. (3) The President may, subject to congressional review provided by section 508, cancel any remaining indebtedness to the government of Ukraine under this section at any time after January 1, 2026. Upon completion of the congressional review process set forth in section 508, such cancellation shall be final and irrevocable. 508. (a) Report Required (1) In General Notwithstanding any other provision of law, before taking any action described in paragraph (2), the President shall submit to Congress a written report that describes that action and the reason for that action. (2) Action Described An action described in this paragraph is an action related to the indebtedness of the Government of Ukraine authorized by section 507(d)(1). (b) Congressional Review Period (1) 2024 During calendar year 2024, if the President submits to Congress a report under subsection (a)(1), the President may not take any action with respect to the indebtedness of the Government of Ukraine until the earlier of— (A) the date that is 10 calendar days after the date of such submission