Summary

This joint resolution proposes a constitutional amendment prohibiting total outlays for a fiscal year from exceeding total receipts for that fiscal year unless Congress authorizes the excess by a two-thirds roll call vote of each chamber. The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing. The amendment also requires the President to submit an annual budget in which total outlays do not exceed total receipts.

Summary written by the Congressional Research Service, Library of Congress. Heard is not affiliated with it. Written at: Introduced in House, 1/13/2025.

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