To require that the President transmit to Congress, that the congressional Budget Committees report, and that the Congress consider a balanced budget for each fiscal year.

[AI summary unavailable — showing source text] TABLE OF CONTENTS: Title I: Amendment to Title 31, United States Code Title II: Amendment to Congressional Budget Act of 1974 Title III: Effective Date Title I: Amendment to Title 31, United States Code - Amends specified Federal law to require that each President's budget submission to Congress be a balanced budget for the ensuing fiscal year. Directs the President, for any fiscal year with respect to which the President determines that it is infeasible to submit a budget in compliance with such balanced budget requirement, to submit on the same day two budgets, one of them in compliance with such requirement, together with written reasons in support of that determination. Title II: Amendment to Congressional Budget Act of 1974 - Amends the Congressional Budget Act of 1974 (CBA) to require reporting of balanced budgets by Committees on the Budget of both the House of Representatives and the Senate. Requires either such Committee, for any fiscal year with respect to which such Committee determines that it is infeasible to report a concurrent resolution on the budget in compliance with such balanced budget requirement, and includes written reasons in support of that determination in…