Bill Sponsorship: Balanced Budget Amendment
JOINT RESOLUTION: Proposing a balanced budget amendment to the Constitution of the United States.Resolved by the Senate and House of Representatives, That the following article is proposed as an amendment to the Constitution of the United States, which shall be valid when ratified by the legislatures of 3/4ths of the several States within seven years after the date of its submission for ratification:
Total outlays for any fiscal year shall not exceed total receipts for that fiscal year, unless 3/5ths of each House of Congress shall provide for a specific excess by a rollcall vote.
The limit on the debt of the United States held by the public shall not be increased, unless 3/5ths of each House shall provide for such an increase by a rollcall vote.
Prior to each fiscal year, the President shall transmit to the Congress a proposed budget in which total outlays do not exceed total receipts.
No bill to increase revenue shall become law unless approved by a majority of each House by a rollcall vote.
The Congress may waive the provisions of this article for any fiscal year in which a declaration of war is in effect; or when the United States is engaged in military conflict which causes an imminent and serious military threat to national security and is so declared by a joint resolution.
Topic: Budget & Economy
Headline: Require a balanced budget, by Constitutional amendment