.Proposing a balanced budget amendment to the Constitution requiring that each agency and department's funding is justified.
Summary
This joint resolution would propose a constitutional amendment to require the federal government to balance its budget each fiscal year. Under the proposal, total government spending could not exceed total revenue unless Congress approves the excess by a three-fifths vote in both chambers, and even then only up to a specified percentage of the nation's gross domestic product. The amendment would also require a three-fifths supermajority vote to increase taxes or raise the debt limit.
If enacted, the amendment would require the President to submit budgets that do not exceed revenues and would mandate that all proposed spending for federal departments and agencies include detailed justifications. The amendment would allow exceptions during declared wars, military conflicts, imminent national security threats, or natural disasters. Currently, the bill has been introduced in the House and referred to committee for consideration, but has not yet been voted on by the full chamber.