Joint resolution to amend the Constitution of the United States to require a balanced Federal budget.

Constitutional Amendment - Requires the President to submit an annual estimate of total revenues to Congress. Imposes an income tax surtax, at a percentage rate to be determined by the President, to provide additional revenue equal to the amount by which total receipts of the Government exceed total outlays in any fiscal year when the Federal budget does not balance. Authorizes the suspension of such surtax in time of war or national emergency.