H.R. 1498 · 118th Congress
National Debt is National Security Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
FranklinSponsorNo cosponsors.
This bill establishes limits on the portion of the national debt that may be held by foreign governments, entities, and individuals.
What it does: CRS summary · Introduced in House · Mar 9, 2023
National Debt is National Security Act
This bill establishes limits on the portion of the national debt that may be held by foreign governments, entities, and individuals.
Specifically, the portion of the national debt that is cumulatively held by foreign governments, entities organized or incorporated under the laws of a foreign country, and citizens of foreign countries may not exceed one-fourth of the national debt.
In addition, the portion of the national debt that is cumulatively held by the government of a single foreign country, entities organized or incorporated under the laws of the country, and citizens of the country may not exceed 5% of the national debt.
The bill allows the President to waive these limits if the President determines and reports to Congress that an important national interest requires the waiver.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: National Debt is National Security Act
Latest action (Mar 9, 2023): Referred to the House Committee on Ways and Means.
Policy area: Economics and Public Finance · Origin: House · Introduced: Mar 9, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.