Joint resolution proposing an amendment to the Constitution of the United States to provide that appropriations shall not exceed revenues of the United States, except in time of war or national emergency.

Congressional Amendment - Prohibits Congress from authorizing the withdrawal of funds from the Treasury of the United States during any fiscal year in an amount which exceeds in the aggregate the total amount of the revenues of the United States (exclusive of borrowed sums) for that fiscal year.

States that in time of war declared by the Congress, or in time of grave national emergency requiring expenditures in excess of receipts proclaimed by the President, the application of this article may be suspended by a concurrent resolution which has passed each House of Congress by a majority of at least two-thirds.