H.J.Res. 10 — Proposing a balanced budget amendment to the Constitution of the United States.

This section proposes a constitutional amendment requiring that, beginning with the fifth fiscal year after ratification, total federal outlays not exceed total receipts unless three-fifths of the whole number of each House of Congress approves a specific excess by rollcall vote. It also bars increasing the debt held by the public unless three-fifths of the whole number of each House approves the increase by rollcall vote, requires the President to submit a balanced budget before each fiscal year, and provides that no bill to increase revenue may become law unless approved by a majority of the whole number of each House by rollcall vote. The amendment permits Congress to waive these requirements for a fiscal year in which a declaration of war