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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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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
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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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.

CATEGORIES

Economy