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Proposing a balanced budget amendment to the Constitution of the United States.
2/6/2024, 8:15 AM
Summary of Bill HJRES 80
Bill 118 hjres 80, also known as the Balanced Budget Amendment, is a proposed amendment to the Constitution of the United States. The purpose of this bill is to require the federal government to operate with a balanced budget, meaning that its spending cannot exceed its revenue.
If passed, this amendment would have significant implications for the way the government manages its finances. It would force lawmakers to carefully consider the impact of their spending decisions and prioritize fiscal responsibility. Supporters of the bill argue that a balanced budget is essential for long-term economic stability and sustainability.
However, critics of the bill raise concerns about the potential limitations it could place on the government's ability to respond to economic downturns or emergencies. They argue that a strict balanced budget requirement could lead to cuts in essential services and hinder the government's ability to invest in important programs. Overall, the Balanced Budget Amendment is a contentious issue that has sparked debate among lawmakers and the public. It remains to be seen whether this bill will gain enough support to become a part of the Constitution.
If passed, this amendment would have significant implications for the way the government manages its finances. It would force lawmakers to carefully consider the impact of their spending decisions and prioritize fiscal responsibility. Supporters of the bill argue that a balanced budget is essential for long-term economic stability and sustainability.
However, critics of the bill raise concerns about the potential limitations it could place on the government's ability to respond to economic downturns or emergencies. They argue that a strict balanced budget requirement could lead to cuts in essential services and hinder the government's ability to invest in important programs. Overall, the Balanced Budget Amendment is a contentious issue that has sparked debate among lawmakers and the public. It remains to be seen whether this bill will gain enough support to become a part of the Constitution.
Congressional Summary of HJRES 80
This joint resolution proposes a constitutional amendment that requires federal expenditures and receipts to be balanced, which may occur over more than one year.
Under the amendment, expenditures include all federal expenditures except those for payment of debt. Receipts do not include receipts derived from borrowing.
The amendment requires Congress to achieve balance within 10 years of the ratification of the amendment.
In an emergency situation, two-thirds of the House of Representatives and the Senate may authorize additional expenditures that are not otherwise permitted by the amendment. The additional expenditures must be for a limited time, and debts incurred from the expenditures must be paid as soon as practicable.
Read the Full Bill
Current Status of Bill HJRES 80
Bill HJRES 80 is currently in the status of Bill Introduced since July 13, 2023. Bill HJRES 80 was introduced during Congress 118 and was introduced to the House on July 6, 2023. Bill HJRES 80's most recent activity was Sponsor introductory remarks on measure. (CR H3601) as of July 13, 2023
Bipartisan Support of Bill HJRES 80
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
2Democrat Cosponsors
0Republican Cosponsors
2Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HJRES 80
Primary Policy Focus
Economics and Public FinanceAlternate Title(s) of Bill HJRES 80
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
Sponsors and Cosponsors of HJRES 80
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