Proposing a balanced budget amendment to the Constitution of the United States.
Sponsored By: Representative Rep. Moran, Nathaniel [R-TX-1]
Introduced
Summary
A constitutional amendment to require the federal government to balance its budget. This joint resolution would propose that federal receipts and expenditures be equal, allow multiyear balancing, and set a limited emergency override and repayment rule.
Show full summary
- Would require federal spending to match revenue, counting all expenditures except payments on federal debt and counting all receipts except money from borrowing. Congress would have 10 years after ratification to achieve that balance.
- Would allow temporary overruns for declared emergencies if two-thirds of both the House and the Senate approve. Any debt incurred from those emergency overruns must be repaid as soon as practicable.
- Would take effect only if ratified by three-fourths of state legislatures within seven years after submission, making the balance rule part of the Constitution once ratified.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Balanced budget rule for federal government
This bill would propose a constitutional amendment requiring a balanced federal budget. Spending would exclude debt payments, and revenue would exclude borrowing, and balance could be over more than one year. If ratified, Congress would have 10 years to comply. In an emergency, two-thirds of both chambers could approve time‑limited extra spending, with those debts repaid as soon as practicable. The amendment would take effect only if three-fourths of states ratify it within seven years.
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Sponsors & CoSponsors
Sponsor
Rep. Moran, Nathaniel [R-TX-1]
TX • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
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