Proposing an amendment to the Constitution to provide for a balanced budget for the United States Government and for greater accountability in the enactment of tax legislation.
About This Bill
Committee
Latest Action · February 28, 2013
Referred to the Subcommittee on the Constitution And Civil Justice.
Constitutional Amendment - Requires Congress and the President to agree annually on an estimate of total receipts (except those derived from borrowing) for a fiscal year by enactment into law of a joint resolution devoted solely to that subject. Prohibits outlays for that year (except those for repayment of debt principal) from exceeding the estimated receipts set forth in the joint resolution, unless Congress, by a three-fifths rollcall vote of the total membership of each chamber, authorizes a specific excess of outlays over estimated receipts.
Requires Congress, whenever actual outlays exceed actual receipts for any fiscal year, to provide by law for the repayment of such excess in the ensuing fiscal year.
Prohibits any increase in the public debt of the United States unless three-fifths of the total membership of each House provides for it by a rollcall vote.
Directs the President to submit a balanced budget to Congress annually.
Prohibits any bill to increase revenue from becoming law unless approved by a majority of each chamber by a rollcall vote.
Waives these provisions when a declaration of war is in effect.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.