The resolution from the New Mexico legislature requests that the United States Congress call a convention, as permitted by Article 5 of the U.S. Constitution, to propose amendments aimed at imposing fiscal restraints on the federal government. It seeks to limit the power and jurisdiction of the federal government and to establish term limits for federal officials and members of Congress. The resolution highlights concerns over the increasing national debt, the burdens of excessive federal regulations on local governments and businesses, and the perceived disconnect between Congress and the interests of the citizens.

Furthermore, the resolution emphasizes the importance of accountability in federal spending and regulation for the well-being of the people. It directs the New Mexico Secretary of State to send copies of this application to key federal officials, including the President and congressional leaders, and states that this application will remain active until at least two-thirds of the states have made similar applications on the same subject.