Proposing an amendment to the Constitution of the United States requiring a balanced budget for the Federal Government.
Proposing an amendment to the Constitution of the United States requiring a balanced budget for the Federal Government.
Plain Language Summary
# Summary of HJ RES 139 - Balanced Budget Amendment **What the Bill Would Do** This proposed constitutional amendment would require the federal government to balance its budget by limiting total spending to the average amount of tax revenue collected over the previous three years, adjusted for population and inflation. Congress could exceed this spending limit only through a two-thirds vote in both the House and Senate, with an exception for years when the country is officially at war. The amendment also requires a two-thirds vote in both chambers to pass any bill that creates a new tax or increases an existing tax rate. The rules would take effect five years after states ratify the amendment. **Who It Affects and Current Status** This amendment would affect all Americans by potentially limiting the federal government's ability to spend money on programs, services, and investments that currently exceed tax revenue.
It would particularly impact Congress's budget-making process. The bill, sponsored by Republican Rep. Andy Biggs of Arizona, is currently in committee and has not advanced. Constitutional amendments require approval from two-thirds of both the House and Senate, plus ratification by three-fourths of the states—a high bar that makes passage difficult.
CRS Official Summary
This joint resolution proposes a constitutional amendment prohibiting total federal expenditures for a year from exceeding the average annual federal receipts collected in the three prior years, adjusted for changes in the population of U.S. citizens and inflation. Expenditures for payment of debt and receipts derived from borrowing are excluded.Under the amendment, Congress may authorize specific expenditures in excess of the limit with (1) a roll call vote of two-thirds of each chamber, or (2) a roll call vote for any year in which a declaration of war is in effect.The amendment also prohibits any bill to levy a new tax or increase the rate of any tax from becoming law unless it has been approved by a roll call vote of two-thirds of the whole number of each chamber of Congress.The requirements take effect in the fifth year beginning after ratification of the amendment.
Latest Action
Placed on the House Calendar, Calendar No. 63.