I'm not quite sure what happens when you go over.
#What happens when a team goes over the budget cap of $140 million?
proven quail
granite furnace
They will be penalised accordingly. It can be a financial sanction(A fine), a "Minor Sporting" or a "Major Sporting" Penalty would include reprimand(Only minor), WCC points deducted, WDC points deducted, race suspensions, limitations to testing and for the Major only, you can get excluded from the Championships or be suspended from the whole competition. The specific terms of how to breach it is covered in Article 8 of the FIA Financial Regulations. https://www.fia.com/sites/default/files/2021_formula_1_financial_regulations_-_iss_3_-_2020-05-27_0.pdf