Proposing an amendment to the Constitution of the United States to provide for balanced budgets for the Government.
Impact
If ratified, HJR6 would impose significant constraints on federal fiscal policy, requiring the government's budgetary practices to focus on achieving balance unless exceptional circumstances arise. Such exceptional circumstances include declared wars, national emergencies, or natural disasters, which can be exempted only through a substantial legislative process. The enforcement of this amendment could lead to considerable changes in how federal allocations are prioritized and may necessitate cuts in funding for various programs when revenues are insufficient.
Summary
HJR6 proposes an amendment to the United States Constitution that mandates a balanced federal budget. Under the provisions of this resolution, total government outlays for any fiscal year would not be permitted to exceed total receipts, unless a two-thirds majority in both houses of Congress votes in favor of allowing a deficit. This initiative is aimed at promoting fiscal responsibility and ensuring that government spending is aligned with revenue, thus potentially impacting how federal budgets are formulated and managed moving forward.
Contention
The proposed amendment is likely to evoke debate among policymakers and economists. Proponents argue that it will instill a greater sense of accountability and discipline in federal spending, potentially warding off entrenched fiscal irresponsibility. However, opponents bring forth concerns that a rigid balanced budget requirement may hinder the government's ability to respond to economic crises effectively, as it could restrict essential spending during downturns or emergencies. The potential for such restrictions to undermine key public services and infrastructure investments presents a significant point of contention in discussions surrounding HJR6.
A CONCURRENT RESOLUTION calling on the United States Congress to submit to the states for ratification a balanced budget amendment to the United States Constitution and making a formal application to Congress under Article V of the United States Constitution to call a convention for the sole purpose of proposing for ratification an amendment to the United States Constitution which requires a balanced federal budget.