A joint resolution to amend the Constitution of the United States to provide for balanced Federal budgets and the elimination of the public debt of the United States.

Summary

Constitutional Amendment - Prohibits the Congress from making appropriations for any fiscal year in an aggregate amount in excess of the estimated Federal revenues for such fiscal year. Authorizes suspension of such prohibition in time of national emergency declared by a two-thirds vote of both Houses of Congress. Requires repayment of any resulting indebtedness within one year from the lapse of such suspension. Prohibits any increase in the public debt of the United States and requires repayment of the existing debt within 50 years.

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

Timeline

1. 23 January 1979

   Introduced

   Referred to House Committee on the Judiciary.

   Source: IntroReferral

2. 23 January 1979

   Introduced

   Introduced in House

   Source: IntroReferral

3. 23 January 1979

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 23 January 1979

  Open at official source

Sponsors

• Rep. Fountain, L. H. [D-NC-2] · D · Sponsor
• · hsju00 · Standing

Related records

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