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.

H.J.Res. 9, introduced by Rep. McClintock (R-CA) on January 3, 2025, proposes a constitutional amendment that would prohibit the U.S. government from increasing its debt except for a specific purpose approved by three-fourths of each chamber's membership. The bill is in the earliest legislative stage—referred to the House Judiciary Committee—and has only three cosponsors. Constitutional amendments require two-thirds of both chambers and ratification by three-fourths of states, making this a procedural and symbolic filing.

There is no funding mechanism or dollar amount in this bill—it is a structural rule change with a 10-year delayed effective date upon ratification. The bill authorizes no spending, creates no tax incentives, and mandates no regulatory changes. No federal contracts, grants, or direct procurement can be traced from this legislation.

Given the lack of legislative momentum (no committee hearings, markup, or floor activity in over 15 months) and the extreme supermajority threshold required for both passage and ratification, there is no credible path to enactment. The bill's sole policy lever—changing the debt ceiling approval process—would affect Treasury borrowing, but only after a decade-long delay and ratification.

No publicly traded companies are affected by this bill in its current state. Debt ceiling negotiations can impact Treasury yields and financial sector sentiment broadly, but this specific proposal is so far from becoming law that any market reaction would be purely speculative.