Proposing an amendment to the Constitution of the United States relative to balancing the budget.

This joint resolution proposes a constitutional amendment that would fundamentally change how Congress manages federal finances. The amendment would require that total federal spending not exceed total federal revenue each fiscal year, unless Congress approves the deficit by a two-thirds vote in both chambers. Additionally, total spending would be capped at 18% of the nation's gross domestic product unless Congress votes by two-thirds to increase this limit.

The amendment would also impose new restrictions on taxation and borrowing. Any new tax, tax rate increase, or increase in total revenue would require a two-thirds vote in both chambers. Raising the federal debt limit would require a three-fifths vote in both chambers. The President would be required to submit annual budgets that comply with these spending and revenue limits.

The amendment includes exceptions for times when the United States is at war or facing an imminent military threat to national security, when these requirements could be waived. However, courts would be prohibited from ordering revenue increases to enforce the amendment's requirements. If enacted, this amendment would substantially constrain federal spending and require supermajority votes for most tax increases and deficit spending, potentially affecting government programs and services that citizens rely on.