Amendment in the nature of a substitute: (1) requires the budget for the U.S. Government to be balanced; (2) requires a three-fifths vote of both Houses by roll call vote to increase the limit on the public debt; (3) requires the President to submit to Congress each year a balanced Federal budget; (4) requires a majority vote of both Houses by roll call for any tax increase; and (5) allows the Congress to waive the above requirements during a time of war or serious military threat.