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A joint resolution proposing a balanced budget amendment to the Constitution of the United States.
3/12/2024, 1:53 AM
Summary of Bill SJRES 19
The purpose of this amendment is to address the issue of the growing national debt and to ensure that the government is fiscally responsible. Supporters of the amendment argue that a balanced budget requirement would force the government to make tough decisions about spending and prioritize its resources more effectively.
Opponents of the amendment, however, argue that it could lead to cuts in important programs and services, such as social security and healthcare, and could potentially harm the economy during times of recession. If passed, this amendment would require a two-thirds majority vote in both the House of Representatives and the Senate, as well as ratification by three-fourths of the states. It is a significant and controversial proposal that has sparked debate among lawmakers and the public.
Congressional Summary of SJRES 19
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.
