Proposing an amendment to the Constitution of the United States requiring a balanced budget for the Federal Government.

Key Points

• This proposal would change the U.S. Constitution to stop the government from spending more money than it brings in. It limits yearly spending to the average amount of tax money collected over the last three years, adjusted for inflation and population changes.
• To make it harder to raise taxes, the amendment would require a two-thirds 'supermajority' vote in both the House and Senate for any new tax or tax rate increase. This is a much higher bar than the simple majority usually needed for most laws.
• There are safety valves for emergencies. Congress could spend more than the limit if two-thirds of members agree to a specific cost, or if the United States is in a formal state of war.
• This would be a massive change to how the government works. Supporters say it would stop the national debt from growing, while critics often worry it could lead to deep cuts in programs like Social Security or education during economic downturns.
• Changing the Constitution is a long process. Two-thirds of both the House and Senate must approve the plan, and then 38 states must agree to it before it becomes law. If that happens, the new rules would start five years after the states finish voting.