A joint resolution proposing an amendment to the Constitution of the United States relative to balancing the budget.

This joint resolution proposes an amendment to the U.S. Constitution that would require the federal government to balance its budget each year. Under this proposal, federal spending could not exceed total revenue or 18% of the nation’s Gross Domestic Product (GDP) unless two-thirds of both the House and Senate vote to allow it. Additionally, the bill would require a two-thirds "supermajority" vote in Congress to create new taxes or raise existing tax rates, and a three-fifths vote to increase the national debt limit.