A bill to amend the Congressional Budget Act to limit the growth of Federal spending and to achieve balanced budgets, and for other purposes.
Balanced Budget Act - Amends the Congressional Budget Act of 1974 to prohibit either House of Congress from considering any concurrent resolution on the budget, any amendment to it, or any conference report on it, if the adoption of such a measure would cause total budget outlays to exceed the recommended level of Federal revenues.
Provides for a waiver of such prohibition by a three-fifths vote of the Congress (or by a majority vote) during a national emergency or declaration of war.
Requires inclusion in the Presidential and Congressional budgets of budget authority for and revenues from all activities of the Federal Government, except revenues derived from borrowing and outlays for repayment of debt principal.
Introduced in House
Introduced in House
Referred to House Committee on Government Operations.
Referred to House Committee on Rules.
Executive Comment Requested from OMB, Treasury.
Referred to Subcommittee on Legislation and National Security.
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