A joint resolution proposing an amendment to the Constitution of the United States which establishes an index to measure increases in consumer prices and which requires (subject to suspension during a time of war or national emergency) that the annual deficit of the United States during any fiscal year not exceed 80 percent of any increase in that index.

Summary

Constitutional Amendment - Directs the Congress to establish an index to measure the monthly increases in consumer prices. Prohibits any annual increase in the amount of money expended by the United States in any fiscal year greater than 80 percent of the increase in consumer prices during the previous year measured by such index. Limits the annual increase in Federal expenditures in any fiscal year following two consecutive fiscal years in which the budget of the United States was balanced or carried a surplus to the percentage increase in the designated consumer price index during the previous year. Authorizes the Congress to suspend the requirements of this Article during a time of war or national emergency.

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1 official file

• Introduced in House

  summary · EN · 31 January 1979

  Open at official source

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