A joint resolution proposing an amendment to the Constitution of the United States limiting annual increases in Federal budget outlays and new Federal budget authority.

[AI summary unavailable — showing source text] Constitutional Amendment - Limits any increase in Federal spending from the previous fiscal year to the average annual percentage increase in the gross national product for the preceding three years. Permits the suspension of such limitation for two years in time of war or national emergency upon the passage of a concurrent resolution by a three-fourths vote of both Houses of Congress.…