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Introduced on July 23, 2025 by Nathaniel Moran
This proposal would change the Constitution to require the federal government to balance what it takes in with what it spends. It allows the budget to be balanced over more than one year, not necessarily every single year. It excludes paying down existing debt from the “spending” side and excludes borrowed money from the “income” side. Congress would have 10 years after ratification to meet this rule. In emergencies, Congress could approve extra spending for a limited time, but it would take a two‑thirds vote in both the House and Senate, and any new debt from that extra spending must be paid off as soon as practicable .
Here’s what that means day to day:
| Key point | What it means |
|---|---|
| Who is affected | Federal budgeting; indirectly, taxpayers and users of federal programs |
| What changes | A constitutional rule to balance federal receipts and expenditures (excluding borrowing as receipts and excluding debt payments as expenditures), with an emergency exception needing two‑thirds approval and lasting only a limited time; any emergency debt must be repaid promptly |
| When | Must be in balance within 10 years after ratification; balancing can occur over more than one year |