It looks like the House has scheduled a vote on a balanced budget amendment -- the full House will vote next Wednesday, July 20, on the measure.
A Politico article from June explains the amendment would forbid government outlays from spending more than are taken in unless three-fifths of Congress votes otherwise.
Here is the House GOP's (colorfully) stated case.
Feds Pay Back Feds the Bailout Money from Feds and Feds Are Happy, But You Lose. Again | John Ransom