Proposed Constitutional Amendment: Federal Balanced Budget Requirement
This proposal aims to add a rule to the Constitution stating that federal government spending cannot exceed its income in a given year, unless Congress votes otherwise. This means the government would need to manage its finances more strictly, potentially impacting funding for public programs and the nation's economic stability.
Key points
Federal government spending must not exceed income, unless three-fifths of Congress approves an excess.
Increasing the national debt will require a three-fifths vote in Congress.
The President must propose a budget where spending does not exceed income.
Any bill to increase taxes will need approval by a majority of Congress.
These rules can be waived during a declared war or serious military threat.
Introduced
Citizen Poll