Bill > HJRes112

This joint resolution proposes a constitutional amendment to establish strict limits on federal government spending and debt. The amendment would require that total government outlays not exceed total receipts unless the excess is financed exclusively by debt, with an initial debt limit set at 105 percent of the existing debt. To increase this debt limit, Congress must obtain approval from a simple majority of state legislatures through a single-subject measure, without offering inducements. If the debt approaches 98 percent of the limit, the President must designate specific expenditures to be impounded to prevent exceeding the authorized debt, with potential impeachment for failing to do so. The resolution also requires a two-thirds congressional vote to pass any new or increased general revenue taxes, with exceptions for certain sales tax proposals. The amendment would define key terms like "debt," "outstanding debt," and "total outlays," and would become immediately operative upon ratification, with the goal of creating a self-enforcing mechanism to control federal spending and borrowing.

Justice

https://www.congress.gov/bill/119th-congress/house-joint-resolution/112/all-info