National Debt is National Security Act

Summary

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.

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Timeline

1. 9 March 2023

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 9 March 2023

   Introduced

   Introduced in House

   Source: IntroReferral

3. 9 March 2023

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 9 March 2023 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 9 March 2023

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 9 March 2023

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 9 March 2023

  Open at official source

Sponsors

• Scott Franklin · R · Sponsor
• · hswm00 · Standing

Related records

• related to → National Debt is National Security Act
• related to ← National Debt is National Security Act