Proposing a balanced budget amendment to the Constitution of the United States.
Key claim: A proposed constitutional amendment would prohibit annual federal spending from exceeding total revenues and require two-thirds approval in both chambers of Congress to raise the debt limit or enact tax increases.
Abstract
(HJRES36 · 118th Congress) This joint resolution proposes a constitutional amendment that prohibits total outlays for any fiscal year from exceeding total receipts for that fiscal year. The amendment also prohibits (1) increases to the federal debt limit, and (2) a bill that increases revenue from becoming law unless the bill has been approved by two-thirds of each chamber of Congress with a rollcall vote. Latest action (2023-03-01): Referred to the House Committee on the Judiciary.
Why this matters
A proposed constitutional amendment would prohibit annual federal spending from exceeding total revenues and require two-thirds approval in both chambers of Congress to raise the debt limit or enact tax increases.