A resolution expressing the sense of the House of Representatives that the President of the United States should announce a state of economic emergency and take certain actions to reduce the rate of inflation, that the House of Representatives Committee on the Judiciary should, without delay, report a joint resolution proposing a constitutional amendment to assure fiscal responsibility.

Expresses the sense of the House of Representatives that: (1) the President should declare a state of economic emergency and submit a plan to the Congress for attacking inflation; (2) the Committee on the Judiciary of the House of Representatives should report a resolution proposing a constitutional amendment to balance the budget and/or limit Federal expenditures; and (3) the President should amend the proposed fiscal year 1981 budget to limit spending to anticipated receipts.