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Limiting Foreign Ownership of U.S. National Debt for Security.

This bill establishes strict new limits on how much U.S. national debt can be held by foreign governments, entities, and individuals. The goal is to enhance national security by reducing financial reliance on foreign actors. The total foreign-held debt is capped at 25% of the national debt, with a further limit of 5% for any single foreign country.
Key points
A cumulative cap is set: foreign governments and citizens combined cannot hold more than 25% of the total U.S. national debt.
A country-specific limit is established: no single foreign nation can hold more than 5% of the total U.S. national debt.
The President retains the power to temporarily waive these limits if deemed necessary for important national interests, requiring detailed notification to Congress.
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Expired
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Additional Information
Print number: 118_S_742
Sponsor: Sen. Ernst, Joni [R-IA]
Process start date: 2023-03-09
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
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_S_742.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-03-09.

What are the main provisions?

Key points include:

  • A cumulative cap is set: foreign governments and citizens combined cannot hold more than 25% of the total U.S. national debt.
  • A country-specific limit is established: no single foreign nation can hold more than 5% of the total U.S. national debt.
  • The President retains the power to temporarily waive these limits if deemed necessary for important national interests, requiring detailed 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 Sen. Ernst, Joni [R-IA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy Security