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Rep. Andy Biggs (R-AZ) proposed a bill last year to address the issue, but failed to gain enough traction to substantially address the growing issue.
Both the Senate and House have joined together to take on the issue with Biggs once again co-sponsoring the resolution.
"It's been 20 years since we've done a balanced budget," Biggs said on FOX Business' “Bulls & Bears” Tuesday. “It's impossible to adequately defend this country, protect this country, when a substantial portion of your debt is held by a potential adversary, perhaps your potential greatest adversary at this point in time."
While the proposed resolution would help tackle the mounting issue of debt in the U.S., it must still pass through both houses of Congress and receive approval from President Trump before taking effect.