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Constitutional Amendment: Mandating a Balanced Federal Budget and 18% GDP Spending Cap.

This proposed constitutional amendment requires the federal government to balance its budget annually, ensuring spending does not exceed revenue. It also imposes a strict cap, limiting total federal outlays to 18% of the nation's GDP. This change aims to curb national debt but makes it significantly harder to raise taxes or increase the debt limit, requiring a two-thirds majority in Congress for such actions.
Key points
The federal government must operate with a balanced budget; annual spending cannot exceed total receipts.
Total federal spending is capped at 18% of the Gross Domestic Product (GDP) from the preceding year.
Raising taxes or increasing the national debt limit requires approval by two-thirds of both the House and the Senate.
Budget limits can only be suspended for a fiscal year with a two-thirds vote in both chambers of Congress.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_SJRES_14
Sponsor: Sen. Lee, Mike [R-UT]
Process start date: 2023-02-16
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A joint resolution 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_SJRES_14.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-02-16.

What are the main provisions?

Key points include:

  • The federal government must operate with a balanced budget; annual spending cannot exceed total receipts.
  • Total federal spending is capped at 18% of the Gross Domestic Product (GDP) from the preceding year.
  • Raising taxes or increasing the national debt limit requires approval by two-thirds of both the House and the Senate.
  • Budget limits can only be suspended for a fiscal year with a two-thirds vote in both chambers of Congress.
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 Sen. Lee, Mike [R-UT].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy Taxes