What is the official ID of this bill?
The official print number for this legislation is SJRES 5.
Proposed Constitutional Amendment: Balanced Budget and Government Spending Limits
This proposed amendment to the US Constitution aims to establish rules requiring the federal government to spend only what it collects and limit spending to 18% of the economy's size. This could mean potential changes in how public services are funded and make it harder to raise taxes or increase the national debt.
Key points
The federal government would be required to spend only as much money as it collects in a given year.
Federal government spending would be limited to a maximum of 18% of the size of the entire national economy.
Raising taxes or introducing new ones would require approval by a two-thirds majority vote in both houses of Congress.
Increasing the public debt limit would also require approval by a two-thirds majority vote in both houses of Congress.
These rules could only be suspended for a given year with the approval of a two-thirds majority vote in both houses of Congress.
Members of Congress could go to court to ensure these rules are followed, but a court could not order the government to increase its revenue.
Status:
Expired
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