Balanced Budget Amendment

Constitutional Amendment - Prohibits in any fiscal year total Federal outlays from exceeding total receipts, unless a three-fifths roll call vote of both Houses authorizes a specific excess.

Prohibits any increases in the public debt unless a three-fifths roll call vote of both Houses of Congress enacts legislation permitting otherwise.

Directs the President to submit a balanced budget to the Congress.

Permits any revenue-increasing bill to become law only if approved by a majority of the whole number of each House by roll call vote.

Waives these provisions when a declaration of war is in effect.