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This resolution proposes a constitutional amendment that would sharply limit when the federal government can borrow more money. Under the proposal, the government could not increase the national debt unless Congress approves it for a specific purpose and at least three-fourths of the members in both the House and the Senate vote for it. The amendment would not take effect right away; it would begin 10 years after it is ratified by the states. To become part of the Constitution, it would also need approval from three-fourths of the state legislatures within seven years.
- The main goal is to make it much harder for the federal government to raise the debt.
- Any new debt increase would need a clear purpose and a very large supermajority vote in both chambers of Congress.
- The amendment would only become part of the Constitution if three-fourths of the states ratify it within seven years.
- Even after ratification, the rule would not start until 10 years later.
Official Summaries
This joint resolution proposes a constitutional amendment that prohibits the U.S. government from increasing its debt except for a specific purpose by a law adopted by three-fourths of the membership of each chamber of Congress.
Current Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.J. Res. 9 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. J. RES. 9
Proposing an amendment to the Constitution of the United States
prohibiting the United States Government from increasing its debt
except for a specific purpose by law adopted by three-fourths of the
membership of each House of Congress.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 3, 2025
Mr. McClintock (for himself and Mr. Weber of Texas) submitted the
following joint resolution; which was referred to the Committee on the
Judiciary
_______________________________________________________________________
JOINT RESOLUTION
Proposing an amendment to the Constitution of the United States
prohibiting the United States Government from increasing its debt
except for a specific purpose by law adopted by three-fourths of the
membership of each House of Congress.
Resolved by the Senate and House of Representatives of the United
States of America in Congress assembled (two-thirds of each House
concurring therein), That the following article is proposed as an
amendment to the Constitution of the United States, which shall be
valid to all intents and purposes as part of the Constitution when
ratified by the legislatures of three-fourths of the several States
within seven years after the date of its submission for ratification:
``Article--
``Section 1. The United States Government may not increase its debt
except for a specific purpose by law adopted by three-fourths of the
membership of each House of Congress.
``Section 2. This article shall take effect beginning ten years
after its ratification.''.
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