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

This joint resolution proposes a constitutional amendment that would require the federal government's total spending to not exceed its total revenue each fiscal year. The only exception would be if Congress authorizes the deficit through a two-thirds roll call vote in both the House and Senate. The amendment would exclude debt repayment and borrowing from these calculations. Additionally, the President would be required to submit annual budgets where spending does not exceed revenue.

If enacted, this amendment would fundamentally change how the federal government manages its finances. Currently, Congress can approve budgets with deficits through a simple majority vote. Under this proposal, running a deficit would require a supermajority, making it significantly harder to spend more money than the government collects in revenue. This could affect federal spending on programs, infrastructure, defense, and other government services.

This resolution is currently in the early stages of the legislative process, having just been introduced in the House. As a joint resolution proposing a constitutional amendment, it would require approval by two-thirds of both chambers of Congress and ratification by three-fourths of state legislatures to become part of the Constitution.