A bill to amend the Congressional Budget Act of 1974 to assure a balanced budget by requiring that Federal expenditures be limited to Federal revenues under the congressional budget process.

[AI summary unavailable — showing source text] Amends the Congressional Budget Act of 1974 to prohibit total budget outlays of the Federal Government from exceeding Federal revenues in any fiscal year except in time of war or national emergency declared by Congress. States that only those concurrent resolutions on the budget which comply with such prohibition shall be considered in order in either the House of Representatives or the Senate.…