Proposing an amendment to the Constitution to provide for a balanced budget for the United States Government and for greater accountability in the enactment of tax legislation.

Constitutional Amendment - Requires Congress and the President, before each fiscal year, to agree on an estimate of total receipts (except those derived from borrowing) for that fiscal year by enactment of a single subject joint resolution. Prohibits outlays for that year (except those for repayment of debt principal) from exceeding this amount unless Congress, by a three-fifths roll call vote of each House, authorizes a specific excess of outlays over receipts.

Requires Congress, whenever actual outlays exceed actual receipts for any fiscal year, to provide by law for the repayment of the excess in the ensuing fiscal year.

Requires a three-fifths roll call vote of each House to increase the public debt.

Directs the President to submit a balanced budget to Congress.

Requires the approval of a majority of the total membership of each House by roll call vote before any bill to increase revenue may become law.

Waives these provisions when a declaration of war is in effect.