A 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.

Constitutional Amendment - Requires the President to submit an annual estimate of total revenues. Prohibits Congress from authorizing appropriations which exceed the estimated revenues. Authorizes the suspension of such prohibition in time of war or by a concurrent resolution passed by the Senate and the House stating that a grave national emergency so requires.