The main purpose of this legislative proposal is to introduce a balanced budget amendment to the U.S. Constitution. The goal is to ensure that the federal government does not spend more money than it receives in revenue, promoting fiscal responsibility and stability. Key provisions of this amendment include a requirement for the federal government to balance its expenditures and receipts. This balance can be achieved over a period of more than one year. Expenditures are defined as all government spending, except for debt payments, while receipts include all income, excluding borrowed funds.