A joint resolution proposing an amendment to the Constitution to provide that except in time of war or economic emergency declared by the Congress, expenditures of the Government may not exceed the revenues of the Government during any fiscal year.

Summary

Constitutional Amendment - Prohibits total Federal expenditures from exceeding net revenue. Authorizes suspension of such prohibition in time of war or national economic emergency upon the concurrence of both Houses of Congress. Requires the Congress, with respect to the suspension of such prohibition in the case of a national economic emergency, to take into consideration the extent and rate of industrial activity, unemployment, inflation, and other appropriate factors.

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1 official file

• Introduced in House

  summary · EN · 28 January 1981

  Open at official source

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