Proposing an amendment to the Constitution of the United States to provide for balanced budgets for the Government.

This bill proposes a constitutional amendment to require the United States government to balance its budget each year. The core rule in Section 1 says total government outlays for any fiscal year cannot exceed total receipts, unless both House of Congresses (in a rollcall vote) approve a specific excess through law by a two-thirds vote. Section 2 requires the President to submit a yearly budget that is balanced (outlays not to exceed receipts). The amendment allows waivers for certain crises (war, national emergency, natural disaster) via joint resolutions with a majority vote in each House. Section 6 allows Congress to define and enforce the amendment through legislation, potentially using budget estimates. Section 7 sets that the amendment takes effect in the fifth fiscal year after ratification, giving a transition period. In short, the bill would impose a legally binding ceiling on federal spending relative to revenue, with limited exceptions, and would tie the administration’s and Congress’s actions to a path toward a balanced federal budget over time.