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Proposed Constitutional Amendment: Government Balanced Budget Requirement

This proposed constitutional amendment aims to ensure that government spending does not exceed its income in any given fiscal year. This means the government would need to manage finances more responsibly, potentially leading to greater economic stability and reduced national debt, impacting future generations.
Key points
Government spending cannot exceed income unless two-thirds of Congress approves an exception.
The President must propose a budget where spending does not exceed income.
These rules can be waived during war, national emergency, or natural disaster.
The changes will take effect five years after ratification by the states.
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Status: Introduced
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Additional Information
Print number: 119_HJRES_6
Sponsor: Rep. Fitzpatrick, Brian K. [R-PA-1]
Process start date: 2025-01-03