Proposing a balanced budget amendment to the Constitution of the United States.
12/15/2023, 3:52 PMSummary of Bill HJRES 55
Bill 118 hjres 55, 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 require Congress to pass a budget each year that does not result in a deficit, unless a three-fifths majority in both the House of Representatives and the Senate vote to allow a deficit in certain circumstances, such as during times of war or national emergency.
Supporters of the Balanced Budget Amendment argue that it would help control government spending and reduce the national debt, which is currently over $28 trillion. They believe that a balanced budget requirement would force Congress to make tough decisions about spending priorities and prevent future generations from being burdened with excessive debt. Opponents of the amendment argue that it could lead to cuts in important government programs, such as Social Security and Medicare, and hinder the government's ability to respond to economic downturns or emergencies. They also point out that balancing the budget could be difficult during times of recession or when facing unexpected expenses. Overall, the Balanced Budget Amendment is a controversial proposal that has sparked debate among lawmakers and the public about the best way to address the federal government's fiscal challenges. It remains to be seen whether this amendment will gain enough support to be passed by Congress and ratified by the states.
Congressional Summary of HJRES 55
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 three-fifths roll call vote of each chamber. The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing.
The amendment requires a three-fifths roll call vote of each chamber to increase the public debt limit. It prohibits a bill to increase revenue from becoming law unless it has been approved by a majority roll call vote of each chamber.
The amendment also requires the President to submit an annual budget in which total outlays do not exceed total receipts.
Congress may waive these requirements due to a declaration of war or a military conflict that causes an imminent and serious military threat to national security.
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Current Status of Bill HJRES 55
Bill HJRES 55 is currently in the status of Bill Introduced since April 18, 2023. Bill HJRES 55 was introduced during Congress 118 and was introduced to the House on April 18, 2023. Bill HJRES 55's most recent activity was Referred to the House Committee on the Judiciary. as of April 18, 2023Bipartisan Support of Bill HJRES 55
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HJRES 55
Primary Policy Focus
Economics and Public FinancePotential Impact Areas
Budget deficits and national debtConstitution and constitutional amendmentsEconomic performance and conditionsIncome tax ratesLegislative rules and procedureAlternate Title(s) of Bill HJRES 55
Proposing a balanced budget amendment to the Constitution of the United States.Proposing a balanced budget amendment to the Constitution of the United States.Comments
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Sponsors and Cosponsors of HJRES 55
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