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.
Directs the President to submit a balanced budget to Congress annually.
Prohibits any bill to increase or decrease revenue from becoming law unless approved by a majority rollcall vote of each chamber.
Authorizes waivers of these provisions when a declaration of war is in effect.
Requires the appropriate congressional committees to report to their respective chambers implementing legislation to achieve a balanced budget without reducing the disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund to achieve that goal.
Placed on the House Calendar, Calendar No. 49.
Committee on the Judiciary Subcommittee on the Constitution, Civil Rights and Human Rights. Hearings held. With printed Hearing: S.Hrg. 112-512.
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.
Referred to the Subcommittee on the Constitution.
Read twice and referred to the Committee on the Judiciary.
Committee on the Judiciary Subcommittee on the Constitution, Civil Rights and Human Rights. Hearings held. With printed Hearing: S.Hrg. 112-512.
Failed of passage in Senate by Yea-Nay Vote. 21 - 79. Record Vote Number: 228.
Introduced in House
Introduced in House
Referred to the House Committee on the Judiciary.
Referred to the Subcommittee on the Constitution.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line