A joint resolution proposing an amendment to the Constitution relating to Federal budget procedures and requiring a balanced Federal budget.

Summary

Constitutional Amendment - Requires the Congress, prior to each fiscal year, to adopt a statement of receipts and outlays for that year in which total outlays are not greater than total receipts. Permits the Congress in such statement to provide for a specific excess of outlays over receipts by a three-fifths vote directed solely to that subject. Requires the President and the Congress to ensure that actual outlays do not exceed the outlays set forth in such statement. Prohibits total receipts for any fiscal year set forth in such statement from increasing by a rate greater than the rate of increase in national income in the last calendar year ending before such fiscal year, unless the Congress passes by a three-fifths vote a bill directed solely to approving specific additional receipts and such bill has become law. Permits the Congress to waive the provisions of this Act with respect to any fiscal year in which a declaration of war or national emergency is in effect. Declares that total receipts shall include all receipts of the United States, except those derived from borrowing and total outlays shall include all outlays of the United states except those for repayment of debt principal.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 30 January 1985

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.