H.J.Res.17 - Proposing a balanced budget amendment to the Constitution of the United States. (119th Congress)
Summary
H.J.Res.17 proposes a constitutional amendment mandating a balanced federal budget. It stipulates that total outlays for any fiscal year cannot exceed total receipts unless a two-thirds majority of both houses of Congress approves a specific excess by a rollcall vote. The amendment also requires the President to submit a balanced budget proposal to Congress each year and grants Congress the power to enforce the article through appropriate legislation.
Expected Effects
If ratified, this amendment would significantly constrain federal spending and potentially reduce the national debt. It could lead to substantial changes in government programs and priorities, requiring Congress to make difficult choices about spending and taxation. The amendment would take effect beginning with the fifth fiscal year after its ratification.
Potential Benefits
- Potentially reduces the national debt and promotes fiscal discipline.
- May lead to greater transparency and accountability in government spending.
- Could foster long-term economic stability by limiting deficit spending.
- Might encourage Congress to prioritize essential government services.
- Could lead to a more efficient allocation of resources.
Most Benefited Areas:
Potential Disadvantages
- Could hinder the government's ability to respond to economic recessions or national emergencies.
- May force cuts to essential government programs, impacting vulnerable populations.
- Could lead to increased political gridlock and difficulty in reaching budget agreements.
- Might shift the burden of government services to state and local governments.
- Could negatively impact economic growth if implemented too aggressively.
Constitutional Alignment
The proposed amendment aligns with the Constitution's framework for amending the document as outlined in Article V. It specifies the required supermajority in Congress for passage and the ratification process by state legislatures. However, it introduces a new constraint on the powers of Congress related to spending and budgeting, potentially impacting the balance of power between the legislative and executive branches.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).