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Limits on US Public Debt Held by Foreign Entities

This act aims to limit the amount of United States public debt that can be held by foreign governments, entities, and individuals. The goal is to enhance the nation's financial security by reducing reliance on foreign creditors. Citizens might experience indirect effects through economic stabilization and potential shifts in financial policy.
Key points
Establishes a cumulative limit that no more than one-fourth of the total US national debt can be held by foreign entities.
Sets a country-specific limit, ensuring no single foreign country holds more than 5% of the total US national debt.
The President can temporarily waive these limits for important national interests, with notification to Congress.
article Official text account_balance Process page
Expired
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No votes cast
Additional Information
Print number: 118_HR_1498
Sponsor: Rep. Franklin, C. Scott [R-FL-18]
Process start date: 2023-03-09
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

National Debt is National Security Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_1498.

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 2023-03-09.

What are the main provisions?

Key points include:

  • Establishes a cumulative limit that no more than one-fourth of the total US national debt can be held by foreign entities.
  • Sets a country-specific limit, ensuring no single foreign country holds more than 5% of the total US national debt.
  • The President can temporarily waive these limits for important national interests, with notification to Congress.
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. Franklin, C. Scott [R-FL-18].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

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

CATEGORIES

Economy Security