Balanced Federal Budget Amendment: Ending Deficit Spending Mandate.
This proposed constitutional change mandates that the federal government must stop spending more money than it collects, with a 10-year deadline for implementation after ratification. This requirement forces Congress to balance revenues and expenditures, potentially leading to cuts in public services or tax increases, but aiming to reduce national debt. Exceptions are allowed only for emergencies with a two-thirds majority vote in both chambers.
Key points
The federal government must balance its spending and receipts (no deficit spending) within 10 years of the amendment's ratification.
In emergency situations (e.g., war, disaster), Congress can temporarily exceed spending limits, but this requires a two-thirds vote in both the Senate and the House.
Status:
Introduced
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