Constitutional Amendment - Prohibits, except in time of war, Federal fiscal year expenditures from exceeding: (1) Federal revenues (except those derived from borrowing) for that fiscal year; and (2) 20 percent of the gross national product for the preceding calendar year. Authorizes the Congress to suspend these prohibitions by concurrent resolution.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S2955)
Read twice and referred to the Committee on Judiciary.
Referred to Subcommittee on Constitution.
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