Constitutional Amendment - Prohibits outlays for a fiscal year (except those for repayment of debt principal) from exceeding total receipts for that fiscal year (except those derived from borrowing) unless Congress, by a two-thirds rollcall vote of each chamber, authorizes a specific excess of outlays over receipts.
Requires a two-thirds rollcall vote of each chamber to increase the public debt limit.
Directs the President to submit a balanced budget to Congress annually.
Requires a two-thirds rollcall vote of each chamber before final adoption of any bill to increase internal revenue.
Authorizes waivers of these provisions when a declaration of war is in effect or under other specified circumstances involving military conflict.
Referred to the Subcommittee on the Constitution, Civil Rights, and Civil Liberties.
Referred to the Subcommittee on the Constitution, Civil Rights, and Civil Liberties.
Referred to the House Committee on the Judiciary.
Referred to the Subcommittee on the Constitution, Civil Rights, and Civil Liberties.
Referred to the Subcommittee on the Constitution, Civil Rights, and Civil Liberties.
Read twice and referred to the Committee on the Judiciary.
Introduced in Senate
Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 511.
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