Proposing an amendment to the Constitution of the United States to control spending.

Constitutional Amendment - Prohibits outlays for a fiscal year (except those for repayment of debt principal) from exceeding one-fifth of economic output of the United States, unless two-thirds of each chamber provide for a specific increase of outlays above this amount.

Authorizes waivers of these provisions when a declaration of war is in effect.

[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.J. Res. 5 Introduced in House (IH)]

112th CONGRESS
  1st Session
H. J. RES. 5

  Proposing an amendment to the Constitution of the United States to 
                           control spending.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 5, 2011

 Mr. Hensarling (for himself, Mr. Pence, and Mr. Campbell) introduced 
the following joint resolution; which was referred to the Committee on 
                             the Judiciary

_______________________________________________________________________

                            JOINT RESOLUTION


 
  Proposing an amendment to the Constitution of the United States to 
                           control spending.

    Resolved by the Senate and House of Representatives of the United 
States of America in Congress assembled (two-thirds of each House 
concurring therein), That the following article is proposed as an 
amendment to the Constitution of the United States, which shall be 
valid to all intents and purposes as part of the Constitution when 
ratified by the legislatures of three-fourths of the several States 
within ten years after the date of its submission for ratification:

                              ``Article--

    ``Section 1. Total annual outlays shall not exceed one-fifth of 
economic output of the United States of America, unless two-thirds of 
each House of Congress shall provide for a specific increase of outlays 
above this amount. Total outlays shall include all outlays of the 
United States Government, except for those for repayment of debt 
principal.
    ``Section 2. The Congress may waive the provisions of this article 
while a declaration of war is in effect.
    ``Section 3. The Congress shall have the power to enforce this 
article by appropriate legislation.
    ``Section 4. This article shall take effect beginning the fifth 
fiscal year after its ratification.''.
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