A joint resolution proposing an amendment to the Constitution of the United States requiring a balanced budget and establishing the requisite procedures.

Section 1(c) requires the full text of any appropriation bill to be furnished to each Member of Congress and made available to the public at least 72 hours before consideration. This is a positive outcome for the people because it creates transparency and gives the public and officials enough time to actually read what is in the bills before they are voted on.

Section 1(e) creates a Taxation, Spending, and Budget Reform Commission that must meet every 10 years and provide recommendations on revenue, spending, and budget reforms if the national debt exceeds 60 percent of the gross domestic product. This could benefit the public by forcing officials to address and tackle high national debt levels.

Section 2 requires Congress to establish a budget stabilization fund and deposit at least 1 percent of net revenue collections into it annually, scaling up to 10 percent by the tenth fiscal year. This could be viewed as a positive measure to ensure the government saves money for emergencies and revenue shortfalls.

Section 1(d) mandates that Congress enact a budget ensuring outlays do not exceed receipts based on the average of the previous 3 years of revenue. This could burden the people if economic downturns force sudden, drastic spending cuts to public services and programs because the government is strictly limited by past revenues.

Section 3(c) gives the President the authority to veto specific provisions of any appropriation bill if projected outlays exceed projected revenues, and Section 3(d) requires a massive three-fourths vote in both Houses of Congress to override that veto. This could heavily burden the people by giving the President immense unilateral control over federal spending and making it nearly impossible for elected representatives to override those cuts.