Barry Smith blogs on budgets and controlling spending. He says:
In addition to limiting spending, the Taxpayer Bill of Rights would set up a budget stabilization fund, sort of like a rainy day fund, for surplus revenue. That money could be used during economic slowdowns to avert major budget cuts. Once money in that fund reaches a certain threshold, money would be rebated to taxpayers. It would also set up a mechanism for higher spending or tax increases, should there be a public demand for it. Those increases would likely require either a vote of the people or a supermajority in both the House and the Senate.
Sounds good, but I won’t hold my breath.