Proposing a balanced budget amendment to the Constitution of the United States.

This joint resolution proposes a constitutional amendment prohibiting total outlays for a fiscal year from exceeding total receipts for that fiscal year unless Congress authorizes the excess by a two-thirds roll call vote of each chamber. The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing.

The amendment also requires the President to submit an annual budget in which total outlays do not exceed total receipts.

Bill 118 hjres 15, also known as the Balanced Budget Amendment, is a proposed amendment to the Constitution of the United States. The purpose of this amendment is to require the federal government to operate with a balanced budget, meaning that its spending cannot exceed its revenue.

The amendment would mandate that Congress pass a budget each year in which total spending does not exceed total revenue. It would also require a three-fifths majority vote in both the House of Representatives and the Senate to approve any budget that is not balanced.

Supporters of the Balanced Budget Amendment argue that it would help control government spending and reduce the national debt. They believe that forcing the government to live within its means would lead to a more fiscally responsible and sustainable budget. Opponents of the amendment, however, argue that it could lead to harmful cuts in essential programs and services, such as education, healthcare, and infrastructure. They also argue that it could limit the government's ability to respond to economic downturns or emergencies. Overall, the Balanced Budget Amendment is a controversial proposal that seeks to address the issue of government spending and the national debt. It has both supporters and critics, and its potential impact on the economy and government programs is a topic of ongoing debate in Congress.