H.J.RES. 139 — Proposing an amendment to the Constitution of the United States requiring a balanced budget for the Federal Government.
Executive Summary
House Joint Resolution 139 proposes a constitutional amendment mandating a balanced budget for the Federal Government. This amendment would require that total expenditures for a year not exceed the average annual receipts collected in the three prior years, adjusted for population changes and inflation. Congress may override this requirement with a two-thirds vote in each House for specific expenditures or during a declared war. The resolution reflects ongoing concerns about federal debt and fiscal responsibility, and was referred to the Committee on the Judiciary.
Arguments For
- Enshrining fiscal responsibility in the Constitution could lead to greater economic stability and investor confidence, fostering long-term growth.
- Passing this resolution allows Republicans to demonstrate commitment to fiscal conservatism, fulfilling campaign promises and potentially galvanizing their base.
- A balanced budget amendment could force Congress to prioritize spending and reduce wasteful programs, leading to more efficient use of taxpayer dollars.
- The amendment provides flexibility through the two-thirds vote override, allowing for necessary spending during emergencies like wars or economic crises.
Likely Supporters
Arguments Against
- A balanced budget amendment could hamstring the government's ability to respond to economic downturns, potentially exacerbating recessions.
- Democrats will argue that the amendment disproportionately harms social programs and vulnerable populations, as balancing the budget may require cuts to essential services.
- Enforcement of the amendment could lead to legal challenges and political gridlock, as different interpretations of 'balanced budget' arise.
- The two-thirds vote override may be insufficient to address unforeseen crises, potentially leading to severe consequences during emergencies.
Likely Opponents
📋 Key Provisions
- Requires a balanced budget where total expenditures do not exceed the average annual receipts from the prior three years, adjusted for population and inflation.
- Allows Congress to override the balanced budget requirement with a two-thirds vote in each House for specific expenditures.
- Permits Congress to exceed the budget limit during a declared war with a two-thirds vote.
- Requires a two-thirds vote in each House to pass any bill that levies a new tax or increases an existing tax rate.
- Specifies that the amendment will take effect five years after ratification.
search
Verification Guide
BETA
expand_more
Don't trust AI? Don't worry, neither do I. Verify the claims yourself.
Total expenditures for a year shall not exceed the average annual receipts collected in the three prior years, adjusted for population changes and inflation.
"Total expenditures for a year shall not"
Congress may override the balanced budget requirement with a two-thirds vote in each House for specific expenditures.
"Congress may by a roll call vote"
A two-thirds vote in each House is required to pass any bill that levies a new tax or increases an existing tax rate.
"Any bill to levy a new tax"
The amendment will take effect five years after ratification.
"take effect with the fifth year"