Balanced-budget amendment and women in sports

Constitutional amendment requiring a balanced federal budget

• Limits annual federal spending: The proposal would cap total federal spending for a year at the average receipts collected in the prior three years, adjusted for changes in the population of U.S. citizens and inflation. Payments on federal debt would not count as spending, and money borrowed by the government would not count as receipts
• Allows votes for excess spending: Congress could approve specific spending above the limit with a roll call vote of two-thirds of each chamber. For a year in which a declaration of war is in effect, Congress could approve specific excess spending by roll call vote
• Sets a higher bar for tax increases: A bill to create a new tax or increase a tax rate could become law only if two-thirds of the whole number of each chamber approved it by roll call vote

1. Introduced
2. In committee
3. Reported▲ THIS MARKUP
4. Passed House
5. Passed Senate
6. Law

What’s next: a floor vote. None is scheduled.