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

Summary

Constitutional Amendment - Prohibits outlays for a fiscal year (except those for repayment of debt principal) from exceeding total receipts for that fiscal year (except those derived from borrowing) unless Congress, by a three-fifths rollcall vote of each House, authorizes a specific excess of outlays over receipts. Requires a three-fifths rollcall vote of each House to increase the public debt limit. Directs the President to submit a balanced budget to Congress annually. Prohibits any bill to increase revenue from becoming law unless approved by a majority of each House by rollcall vote. Authorizes waivers of these provisions when a declaration of war is in effect or under other specified circumstances involving military conflict. Requires the appropriate congressional committees to report implementing legislation to achieve a balanced budget without increasing the receipts or reducing the disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund to achieve that goal.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 17 February 2005

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• Introduced in House (PDF)

  Introduced in House · EN · 17 February 2005

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• Introduced in House

  summary · EN · 17 February 2005

  Open at official source

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