Proposing an amendment to the Constitution of the United States requiring that the Federal budget be balanced.

H.J. Res. 67 proposes a constitutional amendment requiring the federal government to balance its annual budget, meaning spending must not exceed revenue. It also caps annual federal spending at 18% of the previous year's gross domestic product (GDP). To override these limits, pass new taxes or tax increases, or raise the national debt limit, Congress would need a two-thirds vote in both the House and Senate. The amendment would take effect after ratification by three-fourths of state legislatures.