It’s an odd thing...for around 150 years...Presidents never stayed more than two terms, without any rules in place. Only as we get to the FDR period, does this change. By the mid-1940s...there’s a fairly long view by most voters that some things done in the interest of the Depression...really didn’t do much except extend the depression, and the general fault goes back FDR himself. So rules were enacted to ensure that we didn’t get into that kind of mess again. Personally, I’d like the same limits for Senators and Congressmen. Rather than create full-time, life-time folks for positions...like Lords-for-life, it’s best to keep moving them on at some point.
This same Rep has introduced this Bill in each new Congress going back to 2003. I think it was proposed in prior congresses also. It’s not going to happen, at least not in this Congress, IMO.
I think he may have gotten the idea from his cousin Teddy. Although Theodore Roosevelt only served the remaining three and a half years of McKinley's second term and was only elected to one addtional term, he ran for President again as the Bull Moose candidate in 1912. Had he been elected in 1912, he would have served almost three terms.
The worst thing about FDR and the cult of personality “President-for-Life” bit was that people started thinking he was a semi-divine Emperor of some kind. Sailors on their way to fight on Mainland Japan were terrified because they thought FDR’s death meant we were going to lose the war.