Proposing a balanced budget amendment to the Constitution of the United States.

Summary

Constitutional Amendment - Requires the Congress, before each fiscal year, to adopt a statement in which total Federal outlays (except those for repayment of debt principal) do not exceed total receipts (except those derived from borrowing) , unless a three-fifths vote of both Houses authorizes a specific excess. Prohibits a bill to increase receipts from becoming law unless approved by a three-fifths majority in each House. Directs the President to submit a balanced budget. Authorizes the Congress to waive these provisions when: (1) a declaration of war is in effect; or (2) the United States faces an imminent and serious military threat to national security, as declared by a joint resolution adopted by a majority of each House. Sets a permanent limit on the amount of Federal public debt, prohibiting any increase unless legislation enacted by a three-fifths majority of both Houses become law.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 6 January 1999

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• Introduced in House (PDF)

  Introduced in House · EN · 6 January 1999

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• Introduced in House

  summary · EN · 6 January 1999

  Open at official source

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