H.J.Res. 139 — Proposing an amendment to the Constitution of the United States requiring a balanced budget for the Federal Government.

This section proposes a constitutional amendment that would cap total annual federal expenditures at the average annual receipts collected over the prior 3 years, adjusted for changes in U.S. population and inflation, while excluding debt payments from expenditures and borrowing from receipts. It would allow Congress to exceed that spending limit only by a roll call vote of two-thirds of each House for specific expenditures, or by a roll call vote during any year in which a declaration of war is in effect. It would also require any bill to levy a new tax or increase the rate of any tax to receive approval by two-thirds of the whole number of each House by roll call vote. Congress would be directed to enforce the amendment through appropriate legislation, and the amendment would take effect in the fifth year beginning after ratification.