Us Congress 2025-2026 Regular Session

Us Congress House Bill HJR2

Introduced
1/3/25  

Caption

This joint resolution proposes a constitutional amendment that prohibits total outlays for any fiscal year from exceeding total receipts for that fiscal year.The amendment also prohibits (1) increases to the federal debt limit, and (2) a bill that increases revenue from becoming law unless the bill has been approved by two-thirds of each chamber of Congress with a roll call vote.

Impact

If adopted, this balanced budget amendment could lead to significant changes in how federal budgets are formulated and executed. It would require Congress to enact spending plans that align with actual revenues, which proponents argue would prevent excessive debt accumulation and foster a more sustainable fiscal environment. The potential repercussions include cuts to federal programs, as lawmakers might prioritize spending reductions to comply with the new constitutional mandate.

Summary

HJR2 proposes an amendment to the United States Constitution aimed at enforcing fiscal discipline at the federal level. The core provisions of the resolution mandate that total outlays for any fiscal year cannot exceed total receipts, thereby establishing a balanced budget requirement. Additionally, it restricts any increase in the national debt held by the public, effectively capping the country's borrowing limit. This amendment seeks to promote greater accountability and transparency in federal financial management.

Adoption

The resolution has garnered attention in both financial and political discourse. Supporters emphasize the importance of a disciplined fiscal approach to safeguard future generations from unsustainable debt levels. Conversely, those opposed warn that, in practice, the limitation on fiscal tools available to Congress could exacerbate economic challenges and limit essential public services during periods of need.

Contention

Debate around HJR2 might center on the balance between fiscal prudence and the need for flexibility in federal spending. Critics of a balanced budget amendment argue that it could hinder the government's ability to respond effectively during economic downturns or crises, where additional funding might be necessary. Moreover, concerns have been raised that the two-thirds requirement for increasing revenues could make it exceedingly difficult to raise taxes or modify tax policies, potentially stifling economic growth and public investment.

Congress_id

119-HJRES-2

Policy_area

Economics and Public Finance

Introduced_date

2025-01-03

Companion Bills

US HJR11

Related bill This joint resolution proposes a constitutional amendment prohibiting total outlays for a fiscal year from exceeding total receipts for that fiscal year unless (1) Congress authorizes the excess by a three-fifths vote of each chamber, and (2) total outlays do not exceed a specified percentage of the estimated gross domestic product of the United States. The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing. The amendment requires a three-fifths vote of each chamber of Congress to increase revenue or increase the limit on the debt of the United States. The amendment also requires the President to submit an annual budget in which total outlays do not exceed total receipts. The President's budget must also include justifications and specified details regarding funding proposed for departments and agencies. Congress may waive the requirements due to a declaration of war, a military conflict, an event that causes an imminent and serious military threat to national security, or a natural disaster.

US HJR10

Related bill 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.

Previously Filed As

US HJR4

Proposing an amendment to the Constitution of the United States to prohibit Members of Congress from receiving compensation during a fiscal year unless both Houses of Congress have agreed to a concurrent resolution on the budget for that fiscal year prior to the beginning of that fiscal year.

US SB89

No Budget, No Pay Act This bill prohibits Members of Congress from being paid in a fiscal year until both chambers approve the budget resolution and pass all regular appropriations bills for that fiscal year. Retroactive pay is prohibited for such a period.

US SB6

Balanced Budget Accountability Act This bill requires the Office of Management and Budget (OMB), upon adoption by a chamber of Congress of a concurrent budget resolution for a fiscal year, to certify to the Speaker of the House of Representatives or the President pro tempore of the Senate whether that chamber has adopted a balanced budget. Balanced budget means a concurrent budget resolution providing that for FY2033 and each succeeding fiscal year to which the resolution applies total outlays do not exceed total receipts and are not more than 18% of the projected domestic product for such fiscal year. The bill requires the salary of Members of Congress to be held in escrow if OMB determines a chamber has not adopted a balanced budget for FY2024 before April 16, 2023, and for FY2025 before April 16, 2024. The bill also provides for the release of these funds to the Members. Beginning in FY2026, if OMB does not certify that a chamber has adopted a balanced budget before April 16 of the prior fiscal year, each Member of that chamber shall be paid at the rate of $1 annually for pay periods after that date in the same calendar year. The bill also requires that legislation in either chamber to increase revenue be agreed upon by an affirmative vote of three-fifths of the Members of that chamber.

US HB260

Nickel Plan Act This bill modifies the federal budget process to establish and enforce new spending caps. The bill establishes an outlay cap (less net interest payments) for FY2024 of $5.953 trillion, less 5%. For each year from FY2025-FY2027, the outlay cap is 5% less than the previous year's outlay cap. For FY2028 and subsequent years, total outlays (including net interest payments) may not exceed 17.5% of the gross domestic product (GDP) for that year as estimated by the Office of Management and Budget (OMB). Beginning in FY2029, total projected outlays for any year may not be less than the total projected outlays for the preceding year. The OMB must enforce the spending caps using a sequester to eliminate any excess spending through automatic cuts. The bill eliminates the existing exemptions from sequestration. If the OMB projects a sequester, the congressional budget committees may report a resolution directing congressional committees to change existing law to achieve the spending reductions necessary to meet the outlay limits. The bill also establishes procedures for Congress to enforce the outlay caps established by this bill.

US HJR9

Proposing an amendment to the Constitution of the United States prohibiting the United States Government from increasing its debt except for a specific purpose by law adopted by three-fourths of the membership of each House of Congress.

US HB224

Inaction Has Consequences Act This bill withholds the salaries of Members of a chamber of Congress that has not passed each of the annual appropriations bills before the beginning of the fiscal year, beginning with FY2024. Salaries are released on the earlier of (1) the date on which the chamber of Congress passes the bills, or (2) the last day of the Congress.

US SJR1

A joint resolution proposing amendments to the Constitution of the United States relative to the line item veto, a limitation on the number of terms that a Member of Congress may serve, and requiring a vote of two-thirds of the membership of both Houses of Congress on any legislation raising or imposing new taxes or fees.

US SJR14

A joint resolution proposing an amendment to the Constitution of the United States requiring that the Federal budget be balanced.

US HB225

No Budget, No Pay Act This bill withholds the salaries of Members of a chamber of Congress that has not agreed to a budget resolution for FY2024 by April 15, 2023, as required by the Congressional Budget Act of 1974. Salaries are withheld from April 16, 2023, until the earlier of (1) the day on which the chamber of Congress agrees to a budget resolution, or (2) the last day of the 118th Congress.

US HJR19

Proposing a balanced budget amendment to the Constitution requiring that each agency and department's funding is justified.

Similar Bills

No similar bills found.