Require annual federal income tax increases to be tied dollar for dollar to annual federal expenditure decreases.

For every income tax increase the Federal government enacts each year, Congress must reduce overall expenditures by the same or greater amount in the same fiscal year. For example, if the federal government increases income and payroll taxes by $100 billion in FY 2013, they must correspondingly reduce overall expenditures by the federal government by $100 billion (or by a greater amount) in FY 2013 as well.