A joint resolution proposing an amendment to the Constitution relating to Federal budget procedures.

Constitutional Amendment - Requires the President, prior to each fiscal year, to transmit to the Congress a proposed Federal budget in which total outlays do not exceed total estimated revenues. Permits the President to recommend an alternative budget in which outlays exceed revenues with a detailed explanation of the need for such excess.

Prohibits the Congress from making any law which would cause outlays to exceed revenues in a fiscal year. Permits the Congress to suspend such prohibition in time of war or national emergency by passing a concurrent resolution by a three-fifths vote of both Houses.

Prohibits enactment of a bill to increase revenue unless it passes each House of Congress by a majority rollcall vote.