Even though GRH did not produce the budget balance it sought, the determination to improve the fiscal outlook remained. In response to the perceived failures of GRH, the Congress passed the Budget Enforcement Act (BEA) of 1990. This  3  There is a real question about the cyclical sensitivity of tax revenues.
The states’ balanced-budget rules typically do not make adjustments for such sensitivity, but they effectively accommodate fiscal stabilizers because states, as mentioned, can build up rainy day funds in good years and run them down in bad years. A federal balanced-budget amendment would need to confront similar issues.