Proposing an amendment to the Constitution of the United States related to the public debt.

HJRES 229 proposes a constitutional amendment requiring U.S. federal spending (outlays) to never exceed revenue (receipts) except through debt that adheres to strict limits. It sets an initial debt limit at 105% of current debt, requiring state legislatures to approve any increase above this limit via a simple majority vote within 60 days. If debt exceeds 98% of the limit, the President must automatically order spending cuts to comply, with Congress able to override only through a concurrent resolution. This amendment would directly affect all federal budget decisions, tax policies, and debt management, applying immediately upon ratification.