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Proposed Constitutional Amendment: Balanced Federal Budget

This proposal aims to amend the Constitution to require that federal government spending does not exceed its revenues. This means the government would need to manage money more carefully, potentially impacting public services and future tax levels. The changes are intended to limit national debt.
Key points
Government spending cannot exceed revenues unless 3/5 of Congress votes otherwise.
The public debt limit can only be increased with 3/5 Congressional approval.
The President must submit a budget where outlays do not exceed receipts.
Tax increases require approval by a majority of Congress.
These rules can be waived during war or serious national security threats.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_HJRES_55
Sponsor: Rep. Yakym, Rudy [R-IN-2]
Process start date: 2023-04-18
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Proposing a balanced budget amendment to the Constitution of the United States.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HJRES_55.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-04-18.

What are the main provisions?

Key points include:

  • Government spending cannot exceed revenues unless 3/5 of Congress votes otherwise.
  • The public debt limit can only be increased with 3/5 Congressional approval.
  • The President must submit a budget where outlays do not exceed receipts.
  • Tax increases require approval by a majority of Congress.
  • These rules can be waived during war or serious national security threats.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Yakym, Rudy [R-IN-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on the Judiciary.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Economy Taxes Public Investments