Proposing an amendment to the Constitution of the United States to provide that expenditures for a fiscal year shall neither exceed revenues for such fiscal year nor 19 per centum of the Nation's gross national product for the last calendar year ending before the beginning of such fiscal year.

Summary

Constitutional Amendment - Prohibits Federal fiscal year expenditures from exceeding: (1) Federal revenues for that fiscal year; and (2) 19 percent of the gross national product for the preceding calendar year. Authorizes the Congress to suspend these prohibitions during time of war or whenever three-fifths of the total membership of each House, by rollcall vote, provides for a specific excess of outlays over estimated revenues.

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2 official files

• Introduced in House (text)

  Introduced in House · EN

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• Introduced in House

  summary · EN · 13 March 1989

  Open at official source

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