Proposing an amendment to the Constitution of the United States relative to balancing the budget.

This proposal would change the Constitution to require the federal government to balance its budget each year. Total yearly spending could not be more than total yearly income, unless two-thirds of both the House and Senate vote to allow extra spending. It also sets a general limit so that total spending can’t be more than 18% of the nation’s GDP unless two-thirds of both chambers approve going above that amount . The President would have to submit a yearly budget that meets these limits, and courts could not order tax increases to make the numbers work .

Raising taxes would be harder: it would take a two-thirds vote in both chambers to create a new tax, raise tax rates, or raise the total amount of revenue collected. Raising the national debt limit would require a three-fifths vote in both chambers. These rules could be waived during a declared war or a serious military conflict that threatens national security .

• Who is affected: Congress, the President, and taxpayers (through limits on spending, taxes, and debt) .
• What changes: Annual spending must not exceed income; a general 18% of GDP spending cap; supermajority votes needed to raise taxes or the debt limit; courts can’t force tax hikes; limited exceptions for war or serious military threats .
• When: Applies each fiscal year through the annual budget process, with exceptions only in wartime or comparable emergencies .