Proposing an amendment to the Constitution of the United States to provide for balanced budgets for the Government.
Impact
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.
Summary
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.
Contention
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.
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.