Joint resolution to limit expenditures and net lending during the fiscal year 1975 to $297 billion, and for other purposes.

Stipulates that expenditures and net lending during the fiscal year 1975 under the Budget of the United States Government shall be limited to $297,000,000,000. States that if such expenditures and net lending during the fiscal year ending June 30, 1975, exceed $297,000,000,000, a surtax of five percent shall be applied with respect to the income tax of taxpayers for taxable year 1975.