Proposing a balanced budget amendment to the Constitution of the United States.

H.J. Res. 10 would propose a constitutional amendment to create a formal balanced-budget rule for the United States. Under the amendment, each fiscal year’s total government spending (outlays) would have to be no greater than total receipts, unless both Houses of Congress vote by roll call to authorize a specific excess. It would also limit increases to the debt held by the public unless a 3/5 vote in both Houses allows it. The President would be required to submit an annual budget that proposes outlays no greater than receipts. Revenue bills could not become law without a majority vote of the entire House (roll call). The amendment includes narrow waivers during war or military conflict and allows Congress to implement the policy through subsequent legislation. It would take effect in the fifth fiscal year after ratification and states would need to ratify within seven years. In short, the bill would impose a legally enforceable cap on annual spending relative to revenues, constrain debt increases, and shape the congressional budget and revenue processes—with limited wartime waivers and standard enforcement mechanisms.