HJRES 110
Proposing a balanced budget amendment to the Constitution of the United States.
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Bill overview
This joint resolution proposes a constitutional amendment that would require the federal government to balance its budget each year. The amendment defines ‘expenditures’ to include most federal spending, excluding debt payments, and ‘receipts’ to exclude money borrowed. It establishes a 10-year timeframe for achieving balance and allows for emergency spending with repayment obligations, but only with a two-thirds vote in both the House and Senate.
Key provisions
- Federal expenditures and receipts must be balanced annually.
- Expenditures exclude debt payments.
- Receipts exclude borrowing.
- Congress must achieve balance within 10 years of ratification.
- Emergency spending is permitted with a two-thirds vote.
- Emergency spending must be repaid as soon as possible.
Who is affected
- The United States Federal Government
- Taxpayers
- Federal Agencies
- Congress
- The American Public
Notable changes
- Establishes a constitutional requirement for federal budget balance.
- Defines specific categories of expenditures and receipts for balancing purposes.
- Creates a mechanism for emergency spending with repayment obligations.
Fiscal impact
The amendment could significantly impact federal spending and borrowing patterns, potentially leading to reduced discretionary spending and increased scrutiny of budget requests.
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Primary sponsor
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119th CONGRESS — 1st Session
H. J. RES. 110
IN THE HOUSE OF REPRESENTATIVES
JOINT RESOLUTION
Proposing a balanced budget amendment to the Constitution of the United States.
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: