Constitutional Amendment - Prohibits fiscal year Federal outlays (except those for repayment of debt principal) from exceeding receipts (except those derived from borrowing), unless three-fifths of both Houses of Congress (by roll call vote) provide for a specific excess. Directs the President, prior to each fiscal year, to transmit to the Congress a proposed budget in which outlays do not exceed receipts.
Declares that any bill to increase revenue shall become law only if approved by a majority of each House by a roll call vote, unless such bill is approved by unanimous consent.
For Further Action See H.J.Res.268.
Introduced in Senate
Read twice and referred to the Committee on Judiciary.
Subcommittee on Constitution. Hearings held.
Subcommittee on Constitution. Approved for full committee consideration without amendment favorably.
Subcommittee on Constitution. Subcommittee incorporated provisions of S.J. Res. 2, S.J. Res. 9, and S.J. Res. 12 into approved measure.
Referred to Subcommittee on Constitution.
Committee on Judiciary. Ordered to be reported with an amendment in the nature of a substitute favorably.
Committee on Judiciary. Reported to Senate by Senator Biden with an amendment in the nature of a substitute. With written report No. 101-391. Additional views filed.
Committee on Judiciary. Reported to Senate by Senator Biden with an amendment in the nature of a substitute. With written report No. 101-391. Additional views filed.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 718.
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