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 three-fifths rollcall vote of each chamber, authorizes a specific excess of outlays over receipts.
Requires a three-fifths rollcall vote of each chamber to increase the public debt limit.
Directs the President to submit a balanced budget to Congress annually.
Prohibits any bill to increase revenue from becoming law unless approved by three-fifths of each chamber by rollcall vote.
Authorizes waivers of these provisions when a declaration of war is in effect or under other specified circumstances involving military conflict.
Placed on the House Calendar, Calendar No. 49.
Referred to the Subcommittee on the Constitution.
Referred to the Subcommittee on the Constitution.
Referred to the Subcommittee on the Constitution.
Referred to the Subcommittee on the Constitution.
Referred to the Subcommittee on the Constitution.
Read twice and referred to the Committee on the Judiciary.
Failed of passage in Senate by Yea-Nay Vote. 21 - 79. Record Vote Number: 228.
Committee on the Judiciary Subcommittee on the Constitution, Civil Rights and Human Rights. Hearings held. With printed Hearing: S.Hrg. 112-512.
Introduced in House
Introduced in House
Referred to the House Committee on the Judiciary.
Referred to the Subcommittee on the Constitution.
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