We have examined the impact of NBTI degradation on digital circuits through the stressing of ring oscillator circuits. By subjecting the circuit to pMOS NBTI stress, we have unambiguously determined the circuit reliability impact of NBTI. We demonstrate that the relative frequency degradation of the NBTI stressed ring oscillator increases as the voltage at operation decreases. This behavior can be explained by reduced transistor gate overdrive and reduced voltage headroom at the circuit level. We present evidence that donor interface state generation during NBTI stress is a significant component of the transistor degradation. Further, we show that the static noise margin of a SRAM memory cell is degraded by NBTI and the relative degradation increases as the operating voltage decreases.