.Proposing a balanced budget amendment to the Constitution requiring that each agency and department's funding is justified. 2025-01-03 Introduced in House This joint resolution proposes a constitutional amendment prohibiting total outlays for a fiscal year from exceeding total receipts for that fiscal year unless (1) Congress authorizes the excess by a three-fifths vote of each chamber, and (2) total outlays do not exceed a specified percentage of the estimated gross domestic product of the United States. The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing.

The amendment requires a three-fifths vote of each chamber of Congress to increase revenue or increase the limit on the debt of the United States.

The amendment also requires the President to submit an annual budget in which total outlays do not exceed total receipts. The President's budget must also include justifications and specified details regarding funding proposed for departments and agencies.

Congress may waive the requirements due to a declaration of war, a military conflict, an event that causes an imminent and serious military threat to national security, or a natural disaster.

]]> text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.