HJRES 2119th CongressIn Committee

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

Introduced: Jan 3, 2025

Standard Summary

Comprehensive overview in 1-2 paragraphs

This bill proposes a constitutional amendment aimed at creating a mandatory balanced budget for the United States. If ratified, it would require that in every fiscal year, total outlays (spending) do not exceed total receipts (revenues). It also would cap debt held by the public, prohibiting any increase in that portion of the national debt. Additionally, it would require any bill that increases revenue to be approved by a two-thirds vote in both the House and the Senate, with votes recorded by roll call. As a proposed amendment, it must be approved by two-thirds of both chambers and then ratified by three-fourths of the states to become part of the Constitution.

Key Points

1Section 1: Annual spending cannot exceed annual receipts (a formal balanced-budget requirement).
2Section 2: The debt held by the public may not be increased (limits borrowing from the public; intragovernmental debt is not addressed by this section).
3Section 3: Any bill to increase revenue requires a two-thirds vote in both the House and the Senate, with a roll-call vote.
4Process: The measure is a joint resolution proposing an amendment; it would need ratification by three-fourths of the states to take effect.
5Current status: Introduced in the House (H.J. Res. 2, Jan 3, 2025) by Mr. Biggs of Arizona and referred to the Committee on the Judiciary; no final passage as of now.

Impact Areas

Primary group/area affected: Federal fiscal policy and budgetary operations (Congress, the White House, federal agencies, and taxpayers). A balanced budget constraint would shape how programs are funded each year.Secondary group/area affected: Financial markets and debt management (limits on debt held by the public could influence borrowing strategies and market dynamics).Additional impacts:- Tax policy: The supermajority requirement for revenue increases could hinder tax increases and complicate revenue reforms.- Economic stability: In downturns or emergencies, a mandatory balanced budget could force spending cuts or tax increases, potentially amplifying recessions or limiting response to crises.- Constitutional process and enforcement: Courts and legislatures would interpret how to apply the amendment, especially around timing, mandatory spending, and what counts as "receipts" or "outlays."

Generated by gpt-5-nano on Nov 4, 2025