Proposing an amendment to the Constitution of the United States to provide for balanced budgets for the Government.

Key Points

• This proposal would change the U.S. Constitution to require the federal government to spend only as much money as it brings in each year. Currently, the government often spends more than it collects in taxes, which adds to the national debt.
• Under this rule, the President would be required to send a balanced budget to Congress every year. If Congress wants to spend more than the government earns, two-thirds of the members in both the House and Senate would have to vote to allow it.
• There are exceptions for emergencies. Congress could pause the balanced budget requirement if the U.S. is at war, facing a national emergency, or dealing with a major natural disaster. This ensures the government can still act quickly during a crisis.
• If passed by two-thirds of Congress and approved by three-fourths of the states, the rule would go into effect five years later. This delay gives the government time to adjust its spending and tax habits to meet the new requirements.