Joint resolution proposing an amendment to the Constitution of the United States to prohibit certain congressional appropriations.

Constitutional Amendment - Provides that, except when a grave national emergency is declared by the Congress by a concurrent resolution which has passed each House by an affirmative vote, the Congress may make no law appropriating expenditures for any fiscal year in excess of an amount equal to the amount of revenues projected by the President in his budget to be received in that fiscal year, less the sum of amounts previously obligated for expenditure in that fiscal year.