Proposing an amendment to the Constitution of the United States requiring a balanced budget for the Federal Government.

This joint resolution proposes a constitutional amendment that would limit how much money the federal government can spend each year. The spending limit would be based on the average amount of money the government collected in the three previous years, adjusted for population changes and inflation. Congress could spend more than this limit only if two-thirds of both the House and Senate vote to approve it, or during a year when war has been declared. The amendment would also require a two-thirds vote in both chambers of Congress to pass any new tax or tax increase.

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