H.J.Res.6 - Proposing an amendment to the Constitution of the United States to provide for balanced budgets for the Government. (119th Congress)
Summary
H.J. Res. 6 proposes a constitutional amendment mandating balanced budgets for the US government. 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 rollcall vote. The amendment includes provisions for waiving the balanced budget requirement in cases of war, national emergency, or natural disaster, each requiring specific congressional actions.
Expected Effects
If ratified, this amendment would significantly constrain federal spending and potentially reduce the national debt. It would force Congress and the President to prioritize spending and potentially lead to cuts in various government programs. The amendment's exceptions for war, national emergency, and natural disasters provide some flexibility.
Potential Benefits
- Potentially reduces the national debt and deficits.
- May lead to more responsible fiscal policy and prioritization of spending.
- Could increase investor confidence in the US economy.
- May force greater transparency and accountability in government budgeting.
- Could lead to a more stable economic environment in the long term.
Most Benefited Areas:
Potential Disadvantages
- Could limit the government's ability to respond to economic downturns or unforeseen crises.
- May lead to cuts in essential government services and programs.
- Could hinder economic growth by restricting government investment.
- The two-thirds majority requirement for waiving the balanced budget rule could lead to political gridlock.
- Enforcement may rely on potentially inaccurate estimates of outlays and receipts.
Constitutional Alignment
The amendment process itself aligns with Article V of the US Constitution, which outlines the procedures for amending the Constitution. The proposed amendment addresses fiscal policy, which is not explicitly detailed in the Constitution but falls under the implied powers of Congress to provide for the general welfare (Preamble) and to lay and collect taxes (Article I, Section 8). However, some might argue that it unduly restricts the flexibility granted to Congress by the Constitution.
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).