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S.J.Res. 3: A joint resolution proposing an amendment to the Constitution of the United States relative to balancing the budget.
A joint resolution proposing an amendment to the Constitution of the United States relative to balancing the budget.
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Introduced :
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Wed, Jan 26, 2011
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Sponsor :
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Status :
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introduced Wed, Jan 26, 2011
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May-12
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0 Total Hits For All Bills
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Co-Sponsors
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Actions
| Date | Type | Description | Result |
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1/1/0001
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action
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Read twice and referred to the Committee on the Judiciary.
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Rolls
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Committee Assignments
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Subject Terms
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Related Legislative
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Amendments
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Titles Assigned
| Type | AS | Title |
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official
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introduced
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A joint resolution proposing an amendment to the Constitution of the United States relative to balancing the budget.
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SUMMARY:
1/26/2011--Introduced.
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. Prohibits total outlays for any fiscal year from exceeding 20% of the gross domestic product for the preceding calendar year unless Congress, by a two-thirds rollcall vote of each chamber, authorizes a specific excess over such 20%.
Directs the President to submit a balanced budget to Congress annually. Prohibits any bill to increase federal taxes from becoming law unless approved by two-thirds 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.
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