From the fact sheet:

President Biden is calling for three reforms:

  1. **No Immunity for Crimes a Former President Committed in Office: **No Immunity for Crimes a Former President Committed in Office: President Biden shares the Founders’ belief that the President’s power is limited—not absolute—and must ultimately reside with the people. He is calling for a constitutional amendment that makes clear no President is above the law or immune from prosecution for crimes committed while in office. This No One Is Above the Law Amendment will state that the Constitution does not confer any immunity from federal criminal indictment, trial, conviction, or sentencing by virtue of previously serving as President.

  2. **Term Limits for Supreme Court Justices: **Congress approved term limits for the Presidency over 75 years ago, and President Biden believes they should do the same for the Supreme Court. The United States is the only major constitutional democracy that gives lifetime seats to its high court Justices. Term limits would help ensure that the Court’s membership changes with some regularity; make timing for Court nominations more predictable and less arbitrary; and reduce the chance that any single Presidency imposes undue influence for generations to come. President Biden supports a system in which the President would appoint a Justice every two years to spend eighteen years in active service on the Supreme Court.

  3. **Binding Code of Conduct for the Supreme Court: **President Biden believes that Congress should pass binding, enforceable conduct and ethics rules that require Justices to disclose gifts, refrain from public political activity, and recuse themselves from cases in which they or their spouses have financial or other conflicts of interest. Supreme Court Justices should not be exempt from the enforceable code of conduct that applies to every other federal judge.