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Proposed US Constitutional Amendment: Federal Debt Limit

This proposed amendment to the U.S. Constitution aims to establish a permanent limit on federal debt relative to the size of the economy. This means the government would need to manage its spending more strictly, potentially impacting funding for public programs and services, but also aiming for long-term financial stability.
Key points
Establishes a federal debt limit at 130% of GDP, gradually reducing to 120% of GDP.
Exceeding the debt limit would require a three-fifths vote in both Houses of Congress.
The President would be required to submit budgets that comply with the new debt limits.
Waiver of the debt limit is possible during declared war or serious national security threats.
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Status:
Expired
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Additional Information
Print number: 118_HJRES_104
Sponsor: Rep. Yakym, Rudy [R-IN-2]
Process start date: 2023-11-29
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Proposing a Federal debt limit amendment to the Constitution of the United States.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HJRES_104.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-11-29.

What are the main provisions?

Key points include:

  • Establishes a federal debt limit at 130% of GDP, gradually reducing to 120% of GDP.
  • Exceeding the debt limit would require a three-fifths vote in both Houses of Congress.
  • The President would be required to submit budgets that comply with the new debt limits.
  • Waiver of the debt limit is possible during declared war or serious national security threats.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Yakym, Rudy [R-IN-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on the Judiciary.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy