Proposing a balanced budget amendment to the Constitution of the United States.

[AI summary unavailable — showing source text] 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 prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing. The amendment also requires the President to submit a balanced budget to Congress annually.…