Search Results: keywords:"balanced budget"

  • H. R. 7656 — To amend title 31, United States Code, to require the President to submit a balanced budget to Congress, and for other purposes.
    Status:Introduced in House
    Words:240

    The bill H.R. 7656, known as the “Balanced Budget and Accounting Act,” aims to change the way the President of the United States submits the national budget. It proposes that each annual budget submitted by the President must be a balanced budget, meaning that the money the...

    Simple Explanation

    The bill wants to make sure that the money the U.S. plans to spend each year is the same or less than the money it will make, like making sure not to spend more allowance than you get each week. This is to help the country be careful with its money, just like how you might save your allowance to buy a toy without going into debt.

  • H. J. RES. 3 — Proposing an amendment to the Constitution of the United States relative to balancing the budget.
    Status:Introduced in House
    Words:804

    H. J. RES. 3 proposes an amendment to the U.S. Constitution to help balance the national budget. The resolution requires that government spending does not exceed income and limits spending to 18% of the country's gross domestic product unless approved by a two-thirds majority in Congress. It...

    Simple Explanation

    The bill wants to make a new rule that says the government can't spend more money than it earns and needs special permission to spend extra or raise taxes. This would help keep the country's money balanced, but there are special rules for emergencies like wars.