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 two-thirds roll call vote of each chamber. The amendment also requires the President to submit an annual budget in which total outlays for the fiscal year do not exceed total receipts. Congress may waive the requirements for any fiscal year in which (1) a declaration of war is in effect by a roll call vote, or (2) a declaration of a natural disaster or a national emergency is in effect that was declared by a joint resolution that became law after being adopted by a majority of each chamber of Congress.
The amendment outlined in HJR6 would significantly alter the financial operations of the federal government. By mandating that the government's expenditures must not exceed its income, it could lead to stricter federal budgeting processes and limit the ability of legislators to fund new programs without raising taxes or cutting existing services. This could foster a culture of fiscal responsibility, but may also hinder the government's flexibility in responding to unforeseen financial crises, such as economic downturns and emergencies that require substantial funding.
HJR6 is a joint resolution proposing an amendment to the Constitution of the United States aimed at enforcing a balanced budget for the federal government. Under this proposed amendment, total outlays for any fiscal year would not be allowed to exceed total receipts unless two-thirds of both the House and Senate approve a specific excess by a rollcall vote. This measure intends to ensure fiscal discipline and prevent excessive government spending by establishing a constitutional requirement for a balanced budget.
The discussion surrounding HJR6 is likely to evoke strong opinions among lawmakers and various stakeholders. Supporters of the balanced budget amendment argue that it is crucial for long-term economic stability and responsibility, asserting that it will prevent the federal government from accumulating unsustainable debt. Conversely, critics may contend that such rigidity in fiscal policy could prove detrimental, particularly in times of crisis when the government needs to have the ability to increase spending temporarily. Assertions of the negative effects on social programs and economic growth are expected to feature prominently in the debate over this resolution.
Economics and Public Finance