Proposing an amendment to the Constitution of the United States requiring that the Federal budget be balanced.
Summary
H.J.Res. 67 proposes an amendment to the U.S. Constitution that would require the federal government to balance its budget each year, ensuring that total spending does not exceed total revenue or 18% of the nation’s Gross Domestic Product (GDP). To exceed these limits, or to implement new taxes or increase the national debt limit, a two-thirds "supermajority" vote would be required in both the House and the Senate.
For citizens, this measure would fundamentally change how federal fiscal policy is managed by making it significantly more difficult for the government to run a deficit or raise taxes. While the amendment aims to limit long-term national debt, it could also lead to more frequent or substantial cuts to federal programs and services during economic downturns unless a broad consensus is reached in Congress to authorize emergency spending. Additionally, the bill grants members of Congress the legal standing to sue in federal court to enforce these spending limits, though courts would be prohibited from ordering tax increases as a remedy.