HJRES 11
.Proposing a balanced budget amendment to the Constitution requiring that each agency and department's funding is justified.
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Bill overview
This joint resolution proposes a constitutional amendment to establish a balanced budget. It would require that the total spending for any fiscal year not exceed the total revenue, unless Congress approves an exception with a three-fifths vote. The amendment also mandates that the President’s budget include detailed justifications for each department and agency’s funding requests, outlining how the funding supports their mission and impacts the economy. Finally, it limits the ability to increase the national debt without a supermajority vote in Congress.
Key provisions
- Total federal spending must equal total federal revenue each year, with exceptions requiring a three-fifths vote of Congress.
- The President’s budget must include justifications for each department and agency’s funding requests.
- The national debt limit cannot be increased without a three-fifths vote of Congress.
- Total receipts include all government revenue except borrowing; total outlays include all government spending except debt principal repayment.
- Congress can waive the balanced budget requirement in cases of war, military conflict, imminent national security threats, or natural disasters.
- The amendment requires a 20% spending limit in the first fiscal year after ratification, increasing annually by a small percentage.
Who is affected
- Congress
- The President
- Federal Agencies and Departments
- Taxpayers
- The General Public
Notable changes
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119th CONGRESS — 1st Session
H. J. RES. 11
IN THE HOUSE OF REPRESENTATIVES
JOINT RESOLUTION
Proposing a balanced budget amendment to the Constitution requiring that each agency and department’s funding is justified.
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 within seven years after the date of its submission for ratification: