Proposing a balanced budget amendment to the Constitution of the United States.

This joint resolution proposes a constitutional amendment that would require total federal spending to not exceed total federal revenue in each fiscal year. Congress could authorize spending above revenues only through a three-fifths roll call vote in both chambers. The amendment would also require a three-fifths vote to increase the public debt limit and mandate that any bill to raise revenue receive approval from a majority of both chambers. The President would be required to submit annual budgets where spending does not exceed receipts.

The amendment includes exceptions for declarations of war or military conflicts that pose an imminent and serious threat to national security, which could be waived by Congress. If enacted, this amendment would significantly constrain federal spending and borrowing authority, potentially affecting government programs, services, and economic policy. The amendment currently has been introduced in the House and referred to committee for consideration.