Bill > HJRes10

This joint resolution proposes a balanced budget amendment to the United States Constitution that would fundamentally change federal fiscal policy. The proposed amendment would require total government spending (outlays) to not exceed total government revenue (receipts) in any fiscal year, with exceptions only possible through a three-fifths vote in both the House and Senate. It would also prevent increasing the national debt limit without a similar supermajority vote and require the President to submit a balanced budget proposal each year. Additionally, any bill to increase revenue would need approval by a majority vote in both congressional chambers. The amendment includes specific provisions for waiving these requirements during declared wars or serious military conflicts that threaten national security, with such waivers needing to be specifically limited to the excess spending required by the conflict. The debt and spending calculations would exclude borrowing and debt principal repayments, and the amendment would take effect five years after ratification by three-fourths of state legislatures within a seven-year period. This proposed constitutional amendment aims to enforce fiscal discipline and prevent chronic government budget deficits by creating strict procedural constraints on government spending and revenue.

Justice

https://www.congress.gov/bill/119th-congress/house-joint-resolution/10/all-info