Bill > HJRes17

This joint resolution proposes a balanced budget amendment to the United States Constitution that would require the federal government to balance its annual budget, with some key provisions. Under the proposed amendment, total government spending (outlays) for any fiscal year cannot exceed total government revenue (receipts) unless two-thirds of both Congressional chambers vote to approve a specific excess through a recorded vote. The President would be required to submit an annual budget proposal where spending does not exceed revenues, and Congress would be responsible for implementing the amendment through appropriate legislation. The amendment defines total receipts as all government income except borrowed funds, and total outlays as all government spending except debt principal repayments. Importantly, the amendment would not take effect immediately, but would begin in the fifth fiscal year after its ratification. To become part of the Constitution, the amendment would need to be approved by three-fourths of state legislatures within seven years of its submission. This proposed constitutional amendment aims to impose fiscal discipline on the federal government by mandating that the budget be balanced each year, with limited exceptions for extraordinary circumstances requiring a supermajority vote.

Justice

https://www.congress.gov/bill/119th-congress/house-joint-resolution/17/all-info