Resolution Proposing a Balanced Budget Constitutional Amendment

December 14, 2011 | S.J.Res. 10

The joint resolution proposed a constitutional amendment that would require a balanced budget. The proposal would require that total outlays could not exceed 18% of the gross domestic product. Under the proposal, three-fifths of the entire House and Senate would be required to approve an increase in the public debt limit. In addition, tax increases would require the affirmative vote of two-thirds in both chambers. A simple majority could waive the balanced-budget requirement in times of congressionally declared war or in the face of a serious military threat. The amendment was rejected.