A joint resolution proposing an amendment to the Constitution of the United States relative to the balancing of the budget, the limitation of expenditures, and the reduction of the public debt.

Summary

Constitutional Amendment - Prohibits expenditures in any fiscal year, except for expenditures for the repayment of debt principal, from exceeding revenues collected in that year for the average of expenditures as a percentage of the gross national product for the previous three fiscal years. Permits borrowing for capital expenditures for a period of time proportionate to their probable usefulness. Directs Congress to provide by law for the repayment of the existing national debt. Allows suspension of this amendment for any fiscal year whenever two-thirds of both Houses shall deem it necessary.

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Timeline

1. 5 January 1981

   Introduced

   Referred to House Committee on The Judiciary.

   Source: IntroReferral

2. 5 January 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 5 January 1981

   Introduced

   Introduced in House

   Source: IntroReferral

4. 17 February 1981

   Referred

   Referred to Subcommittee on Monopolies and Commercial Law.

   Source: Committee

5. 18 March 1981

   Committee

   Subcommittee Hearings Held.

   Source: Committee

6. 19 March 1981

   Committee

   Subcommittee Hearings Held.

   Source: Committee

7. 5 May 1982

   Committee

   Subcommittee Hearings Held.

   Source: Committee

8. 19 May 1982

   Committee

   Subcommittee Hearings Held.

   Source: Committee

9. 18 August 1982

   Committee

   See H.J.Res.350.

   Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 5 January 1981

  Open at official source

Sponsors

• Rep. McClory, Robert [R-IL-13] · R · Sponsor
• · hsju00 · Standing

Related records

• related to ← A joint resolution proposing an amendment to the Constitution altering Federal budget procedures.