H. J. RES. 2 proposes an amendment to the United States Constitution requiring that government spending does not exceed its income each fiscal year, effectively mandating a balanced budget. The amendment also states that any increase in the public debt of the United States is...
Simple Explanation
The bill is like a rule for the country's money, saying the government can't spend more than it earns each year, like how someone shouldn't spend more than they have in their piggy bank. It also says the government needs a lot of people to agree if it wants to make new ways to collect money, like taxes.