Proposing a Federal debt limit amendment to the Constitution of the United States. | ChamberLight
Bills · HR 37
IN COMMITTEE· 119TH CONGRESS
House BillHR 37Constitution and constitutional amendmentsBudget process
Proposing a Federal debt limit amendment to the Constitution of the United States.
INTRO JAN 3· LAST ACTION JAN 3
READING
3MIN
COSPONSORS
0
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8
Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
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This bill matters because it proposes a fundamental and long-lasting change to how the U.S. government manages its finances by embedding a debt limit directly into the Constitution. Currently, Congress sets a statutory debt limit that can be raised with a simple majority vote, often leading to political disputes.
If this amendment becomes law, exceeding the debt limit would require a much higher bar—a three-fifths vote in both chambers—and would be tied to the size of the economy, providing a dynamic ceiling. This could lead to more disciplined government spending and borrowing, potentially reducing the national debt over time and affecting the availability of funds for future government initiatives, social programs, or economic stimulus measures. Without this amendment, the current system of statutory debt limits continues, allowing Congress to raise the limit more easily with a simple majority vote.
KEY PROVISIONS
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PROVISION 01
Proposes a new article to the Constitution that would establish a permanent limit on the total federal debt.
This makes the debt limit a foundational, harder-to-change rule for government borrowing, unlike current temporary limits set by Congress.
PROVISION 02
Caps total federal debt at 130 percent of Gross Domestic Product (GDP) initially, gradually reducing it to 120 percent of GDP.
This ties the national debt directly to the country's economic output, providing a flexible yet firm ceiling rather than a fixed dollar amount.
PROVISION 03
Requires a three-fifths majority vote of the full membership in both the House and Senate to exceed the debt limit for specific reasons.
This significantly increases the difficulty for Congress to approve borrowing beyond the constitutional cap, requiring broad bipartisan agreement.
PROVISION 04
Mandates that the President submit an annual budget where the total debt does not exceed the constitutional limit for the current and next five fiscal years.
This places a direct and continuous responsibility on the Executive Branch to plan for fiscal solvency within the constitutional framework.
PROVISION 05
Allows the debt limit to be temporarily waived during declared wars or specific military conflicts posing an imminent national security threat, requiring a joint resolution.
This provides necessary flexibility for critical national defense spending during times of emergency, preventing the limit from hindering vital security efforts.
This bill matters because it proposes a fundamental and long-lasting change to how the U.S. government manages its finances by embedding a debt limit directly into the Constitution. Currently, Congress sets a statutory debt limit that can be raised with a simple majority vote, often leading to political disputes.
If this amendment becomes law, exceeding the debt limit would require a much higher bar—a three-fifths vote in both chambers—and would be tied to the size of the economy, providing a dynamic ceiling. This could lead to more disciplined government spending and borrowing, potentially reducing the national debt over time and affecting the availability of funds for future government initiatives, social programs, or economic stimulus measures. Without this amendment, the current system of statutory debt limits continues, allowing Congress to raise the limit more easily with a simple majority vote.
KEY PROVISIONS
AI-extracted
high
Proposes a new article to the Constitution that would establish a permanent limit on the total federal debt.
This makes the debt limit a foundational, harder-to-change rule for government borrowing, unlike current temporary limits set by Congress.
high
Caps total federal debt at 130 percent of Gross Domestic Product (GDP) initially, gradually reducing it to 120 percent of GDP.
This ties the national debt directly to the country's economic output, providing a flexible yet firm ceiling rather than a fixed dollar amount.
high
Requires a three-fifths majority vote of the full membership in both the House and Senate to exceed the debt limit for specific reasons.
This significantly increases the difficulty for Congress to approve borrowing beyond the constitutional cap, requiring broad bipartisan agreement.
med
Mandates that the President submit an annual budget where the total debt does not exceed the constitutional limit for the current and next five fiscal years.
This places a direct and continuous responsibility on the Executive Branch to plan for fiscal solvency within the constitutional framework.
med
Allows the debt limit to be temporarily waived during declared wars or specific military conflicts posing an imminent national security threat, requiring a joint resolution.
This provides necessary flexibility for critical national defense spending during times of emergency, preventing the limit from hindering vital security efforts.
Within 7 years after the date of its submission for ratification.
The proposed amendment must be ratified by the legislatures of three-fourths of the several States.
Beginning with the third fiscal year beginning after its ratification.
The article (amendment) shall take effect.
GLOSSARY
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Constitutional Amendment
A change or addition to the U.S. Constitution, which is the supreme law of the land, making it a permanent part of the governing document.
Federal Debt
The total amount of money owed by the U.S. government, including money borrowed from the public (e.g., through bonds) and money owed to other government accounts (e.g., Social Security trust fund).
Gross Domestic Product (GDP)
The total value of all goods and services produced within a country's borders in a specific period, used as a key measure of the economy's size and health.
Fiscal Year
The 12-month period that a government or organization uses for budgeting and accounting. For the U.S. federal government, it runs from October 1 to September 30.
Roll Call Vote
A type of vote in a legislative body where each member's vote is individually recorded, often by calling out their name, making their position public.
Supermajority
A voting requirement that demands a greater number of votes than a simple majority (more than half) to pass a measure, such as three-fifths or two-thirds of all members.
The formal approval or consent to a proposed amendment, treaty, or agreement, typically by a legislative body or the states, making it legally binding.
Intragovernmental Debt
Debt owed by one part of the government to another, typically when the Treasury borrows from federal trust funds like Social Security or Medicare.
