Bill Details
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This resolution would start the process of changing the Constitution to require the federal government to keep its budget balanced each year. In simple terms, it says the government could not spend more money than it takes in, could not raise the amount of debt it owes to the public, and would need a very high vote in Congress to pass any law that raises revenue. If Congress approves it and enough states later ratify it, these rules would become part of the Constitution.
- For each fiscal year, federal spending would have to stay at or below federal income.
- The amount of debt held by the public could not be increased.
- Any bill that raises revenue would need approval by two-thirds of all members of both the House and the Senate, by recorded vote.
- The amendment would only take effect if three-fourths of the states ratify it.
Official Summaries
This joint resolution proposes a constitutional amendment that prohibits total outlays for any fiscal year from exceeding total receipts for that fiscal year.
The amendment also prohibits (1) increases to the federal debt limit, and (2) a bill that increases revenue from becoming law unless the bill has been approved by two-thirds of each chamber of Congress with a roll call vote.
Current Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.J. Res. 2 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. J. RES. 2
Proposing a balanced budget amendment to the Constitution of the United
States.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 3, 2025
Mr. Biggs of Arizona submitted the following joint resolution; which
was referred to the Committee on the Judiciary
_______________________________________________________________________
JOINT RESOLUTION
Proposing a balanced budget amendment to the Constitution of the United
States.
Resolved by the Senate and House of Representatives of the United
States of America in Congress assembled (two-thirds of each House
concurring therein), That the following article is proposed as an
amendment to the Constitution of the United States, which shall be
valid to all intents and purposes as part of the Constitution when
ratified by the legislatures of three-fourths of the several States:
``Article--
``Section 1. Total outlays for any fiscal year shall not exceed
total receipts for that fiscal year.
``Section 2. The limit on the debt of the United States held by the
public shall not be increased.
``Section 3. No bill to increase revenue shall become law unless
approved by two-thirds of the whole number of each House by a rollcall
vote.''.
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