Vote Smart's Synopsis:

Vote to pass a concurrent resolution that urges the U.S. Congress to call a Constitutional Convention to amend the U.S. Constitution to require a balanced federal budget.

Highlights:

-Specifies that the purpose of the Constitutional Convention is to propose the following amendments to the U.S. Constitution:

-To achieve a balanced budget by doing the following:
-Requiring that such balanced budget account for all obligations of the federal government; -Allowing flexibility in federal balanced budget requirements by providing exceptions related to exigencies such as national emergencies or threats to the nation's security; -Imposing spending limits on the federal government; -Setting "extraordinary vote requirements" for new or increased federal taxes and other revenues; -Prohibiting federal mandates on states to impose taxes or fees; and

-To control the ability of the Congress and the various federal executive agencies to require states to expend funds by doing the following:
-Limiting the ability of Congress to pass legislation requiring states to spend money or to take actions requiring the expenditure of money; and -Limiting the ability of Congress to dictate to states requirements for the expenditure of federal funds other than such requirements as may be necessary.

Full Bill Text