Proposing a Federal debt limit amendment to the Constitution of the United States.

Bill 119 HR 37, also known as the Federal Debt Limit Amendment, is a proposed amendment to the Constitution of the United States that aims to establish a limit on the amount of federal debt that the government can incur. The bill seeks to address the issue of the growing national debt by imposing a cap on the total amount of money that the government can borrow.

If passed, the amendment would require Congress to set a limit on the federal debt, which would then need to be approved by a majority vote in both the House of Representatives and the Senate. The amendment also includes provisions for raising the debt limit in certain circumstances, such as during times of war or national emergency.

Supporters of the bill argue that a federal debt limit amendment is necessary to ensure fiscal responsibility and prevent the government from accumulating unsustainable levels of debt. They believe that imposing a cap on the federal debt will encourage Congress to make more responsible spending decisions and help to prevent future financial crises. Opponents of the bill, however, argue that a federal debt limit amendment could have negative consequences for the economy by restricting the government's ability to respond to economic downturns or emergencies. They also point out that Congress already has the power to set and adjust the federal debt limit through the regular budgeting process. Overall, Bill 119 HR 37 is a controversial proposal that has sparked debate among lawmakers and experts on both sides of the political spectrum. It remains to be seen whether the bill will gain enough support to pass in Congress and ultimately be ratified as an amendment to the Constitution.