Proposing a constitutional amendment to require a balanced federal budget.
This bill proposes an amendment to the U.S. Constitution mandating that federal expenditures do not exceed average annual receipts from the prior three years, adjusted for population and inflation. Exceptions allow for higher spending during war and require a two-thirds majority for new or increased taxes. The amendment would take effect five years after ratification.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.