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

This joint resolution proposes a constitutional amendment that would fundamentally change how the federal government manages its finances. The amendment would prohibit total federal spending from exceeding total federal revenue in any fiscal year, effectively requiring a balanced budget. Additionally, it would prevent increases to the federal debt limit and would require any bill that increases revenue to be approved by a two-thirds majority in both the House and Senate through a recorded vote.

If enacted, this amendment would significantly constrain federal spending and borrowing. Currently, the government regularly spends more money than it collects in taxes, with the difference added to the national debt. Under this amendment, Congress would need to either reduce spending, increase revenues, or some combination of both to balance the budget each year. The two-thirds requirement for tax increases would make it substantially harder to raise revenue, potentially forcing deeper spending cuts to achieve balance.