Proposed amendment would require federal budget to balance each year

What does this do?

This proposed constitutional amendment would require the federal government to not spend more than it collects each year, unless three-fifths of both the House and Senate approve otherwise through a recorded vote. The same three-fifths threshold would apply to raising the debt limit, the President would have to submit a balanced budget each year, and tax increases would need majority approval with a recorded vote. Rules could be waived during a declared war or serious military conflict, and the amendment wouldn't take effect until five years after state ratification.

Who does it affect?

This would affect virtually everyone in the country, since it could reshape federal funding for programs like Social Security, Medicare, defense, and other services.

Why does it matter?

Supporters argue it would force fiscal discipline and reduce long-term debt, while critics worry it could limit the government's ability to respond quickly to recessions, disasters, or other crises requiring flexible spending. As a constitutional amendment, it faces a very high bar: two-thirds approval in both chambers of Congress and ratification by three-fourths of state legislatures.

Where does it stand?