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Proposed Constitutional Amendment: Balanced Federal Budget and New Tax Rules

This proposed amendment to the U.S. Constitution aims to require that federal government spending does not exceed its income in a given year. It also limits spending to 18% of the gross domestic product. Citizens may experience an impact on national financial stability and potential changes in how public services are funded, as new taxes or rate increases will require greater support in Congress.
Key points
Federal government spending will not be allowed to exceed its income in a given year.
Federal government spending will be limited to 18% of the nation's economic output.
Introducing new taxes or increasing rates will require a two-thirds vote in both houses of Congress.
Increasing the national debt limit will require a two-thirds vote in both houses of Congress.
Members of Congress will be able to seek judicial enforcement of these rules if supported by one-third of their chamber's members.
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Expired
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Additional Information
Print number: 118_HJRES_75
Sponsor: Rep. Loudermilk, Barry [R-GA-11]
Process start date: 2023-06-15
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Proposing an amendment to the Constitution of the United States requiring that the Federal budget be balanced.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HJRES_75.

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 2023-06-15.

What are the main provisions?

Key points include:

  • Federal government spending will not be allowed to exceed its income in a given year.
  • Federal government spending will be limited to 18% of the nation's economic output.
  • Introducing new taxes or increasing rates will require a two-thirds vote in both houses of Congress.
  • Increasing the national debt limit will require a two-thirds vote in both houses of Congress.
  • Members of Congress will be able to seek judicial enforcement of these rules if supported by one-third of their chamber's members.
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. Loudermilk, Barry [R-GA-11].

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 Courts and Law