Proposed Constitutional Amendment: Limiting Government Debt Increases
This proposed constitutional amendment aims to restrict the government's ability to increase its debt. Any debt increase would require approval by three-fourths of the members of each House of Congress for a specific purpose. If ratified, this change would take effect ten years after its approval, allowing time for adjustment to new fiscal rules.
Key points
Government debt increases would require a 3/4 vote from both Houses of Congress for a specific purpose.
The amendment seeks to impose stricter control over public spending and national debt.
New rules would become effective 10 years after ratification.
Status:
Expired
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