Proposing a balanced budget amendment to the Constitution of the United States.
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Bill details
Summary
Introduced in House
This joint resolution proposes a constitutional amendment that requires federal expenditures and receipts to be balanced, which may occur over more than one year. Under the amendment, expenditures include all federal expenditures except those for payment of debt. Receipts do not include receipts derived from borrowing. The amendment requires Congress to achieve balance within 10 years of the ratification of the amendment. In an emergency situation, two-thirds of the House of Representatives and the Senate may authorize additional expenditures that are not otherwise permitted by the amendment. The additional expenditures must be for a limited time, and debts incurred from the expenditures must be paid as soon as practicable.
District impact notes
This joint resolution proposes an amendment to the U.S. Constitution that would require federal spending and revenue to be balanced over time. • This policy could influence how federal funds are allocated, potentially affecting local programs and services that rely on federal support. • Local institutions and public services may need to adapt to changes in federal funding practices if this amendment is enacted. • There may be questions about how emergencies are defined and managed under this amendment, particularly regarding the process for authorizing additional spending. AI-generated from official bill summary and plain-English note; verify with official text.
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