Proposed Constitutional Amendment: Balanced Budget and Spending Justification
This proposed amendment to the U.S. Constitution aims to mandate a balanced federal budget, meaning the government generally cannot spend more than it collects in revenue. It also requires government agencies to justify all funding requests, enhancing transparency and accountability in public spending. Citizens might experience more stable national finances and greater governmental responsibility in managing their tax dollars.
Key points
Government spending generally cannot exceed revenue in a fiscal year, unless 3/5 of Congress approves an exception.
The national debt limit could only be increased with a 3/5 vote in both houses of Congress.
Every government agency would need to justify its funding requests, detailing their impact on mission and the economy.
New taxes would require a 3/5 majority vote in both houses of Congress.
These rules could be waived during a declared war, serious military threat, or natural disaster.
Expired
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