Proposing an amendment to the Constitution of the United States to restrict annual deficits by limiting the public debt of the United States and requiring a favorable vote of the people on any law to exceed such limits.

Summary

Constitutional Amendment - Prohibits the public debt from increasing by more than one percent each year unless authorized by a law approved by a majority of the Members of the Senate and the House of Representatives. Requires such law to be approved by a majority vote of the electorate before it takes effect. Declares that such prohibition does not apply to public debt contracted to: (1) repel invasion of the United States; (2) defend the United States in time of war; (3) support the U.S. armed forces in time of war; or (4) redeem a previous debt obligation of the United States.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 4 January 1995

   Introduced

   Referred to the House Committee on the Judiciary.

   Source: IntroReferral

2. 4 January 1995

   Introduced

   Introduced in House

   Source: IntroReferral

3. 4 January 1995

   Introduced

   Introduced in House

   Source: IntroReferral

4. 24 January 1995

   Committee

   For Further Action See H.J.Res.1.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 4 January 1995 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 4 January 1995

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 4 January 1995

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 4 January 1995

  Open at official source

Sponsors

• Rep. Pickett, Owen B. [D-VA-2] · D · Sponsor
• · hsju00 · Standing

Related records

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