If enacted, this bill would initiate a significant constitutional process that could alter the fiscal management methods of the federal government. The proposed amendment would effectively enforce a balanced budget requirement, compelling the federal government to align its spending to its income. Proponents argue that this aligns federal fiscal policy more closely with that of states and helps secure economic opportunities for future generations by curbing deficit spending, which they assert leads to a decline in living standards and job losses.
Summary
Bill S0245, titled as the Federal Balanced Budget Amendment, seeks to propose an amendment to the U.S. Constitution aimed at imposing fiscal restraints on the federal government. The bill is a response to concerns over the increasing federal public debt, which has surpassed thirty-one trillion dollars, and aims to address what its supporters describe as fiscal irresponsibility at the federal level. This concurrent resolution calls for a convention of states under Article V of the U.S. Constitution to ensure that, in the absence of a national emergency, federal appropriations cannot exceed the total estimated federal revenues in any given fiscal year.
Contention
Despite its fiscal intent, the bill raises notable concerns among opponents who fear that a balanced budget amendment might limit the federal government's ability to respond effectively during economic crises, such as recessions or natural disasters. Critics argue that the rigidity of a balanced budget could hinder economic recovery efforts and reduce the government's capacity to invest strategically in the public good. There is also apprehension about how such an amendment would impact social programs and essential services heavily reliant on government funding, particularly in times of economic strain.
A CONCURRENT RESOLUTION calling on the United States Congress to submit to the states for ratification a balanced budget amendment to the United States Constitution and making a formal application to Congress under Article V of the United States Constitution to call a convention for the sole purpose of proposing for ratification an amendment to the United States Constitution which requires a balanced federal budget.
Applies to Congress for Article V Convention of States to require balanced federal budget, impose term limits, and revise method of awarding electoral votes.
Urging Congress to propose an amendment to the United States Constitution to require the federal government to operate under a balanced budget wherein federal government expenditures do not exceed federal government revenues.
Urging The United States Congress To Call A Convention For Proposing Amendments Pursuant To Article V Of The United States Constitution Limited To Proposing Amendments That Impose Fiscal Restraints On The Federal Government, Limit The Power And Jurisdiction Of The Federal Government, And Limit The Terms Of Office For Its Officials And Members Of Congress.
Urging The United States Congress To Call A Convention For Proposing Amendments Pursuant To Article V Of The United States Constitution Limited To Proposing Amendments That Impose Fiscal Restraints On The Federal Government, Limit The Power And Jurisdiction Of The Federal Government, And Limit The Terms Of Office For Its Officials And Members Of Congress.
Urging The United States Congress To Call A Convention For Proposing Amendments Pursuant To Article V Of The United States Constitution Limited To Proposing Amendments That Impose Fiscal Restraints On The Federal Government, Limit The Power And Jurisdiction Of The Federal Government, And Limit The Terms Of Office For Its Officials And Members Of Congress.
Applying to the United States Congress for a convention of the states to propose amendments to the United States Constitution regarding the imposition of fiscal restraints on the federal government, further limiting the power and jurisdiction of the federal government, and limiting the terms of office for members of Congress and other federal officials.
Applying to the Congress of the United States to call a convention under Article V of the United States Constitution for the limited purpose of proposing one or more amendments to the constitution to impose fiscal restraints on the federal government, to limit the power and jurisdiction of the federal government, and to limit the terms of office of federal officials and members of Congress.
Applying to the Congress of the United States to call a convention under Article V of the United States Constitution for the limited purpose of proposing one or more amendments to the constitution to impose fiscal restraints on the federal government, to limit the power and jurisdiction of the federal government, and to limit the terms of office of federal officials and members of Congress.
Ratifying A Proposed Amendment To The Constitution Of The United States Giving The Congress Of The United States Power To Limit, Regulate, And Prohibit The Labor Of Persons Under Eighteen Years Of Age.