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

This joint resolution proposes a constitutional amendment that would require the federal government to balance its budget each year, meaning it cannot spend more money than it takes in unless two-thirds of both chambers of Congress vote to allow it. The amendment would also limit total government spending to 18% of the country's total economic output unless two-thirds of Congress votes for a higher amount. It would require a two-thirds vote in Congress to create new taxes or raise existing tax rates, and a three-fifths vote to increase the national debt limit. The President would have to submit a balanced budget each year, and courts could not order tax increases to enforce these rules, though Congress could waive these requirements during war or serious military threats.

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