Joint resolution to amend the Constitution of the United States providing for a limitation of annual appropriations to achieve national fiscal responsibility.

Summary

Constitutional Amendment - Provides that no money shall be drawn from the Treasury, but in consequence of appropriations made by law, and any sum appropriated to satisfy the annual need of the Federal Government shall not exceed a computed sum equal to the aggregate of the average of the total appropriations for the three consecutive fiscal years immediately preceding the current fiscal year plus the multiple product of the annual per centum rate of interest paid by the Federal Government, unless Congress shall first declare a national emergency in justification of any appropriation in addition thereto; and a regular statement and account of the receipts and expenditures of all public money shall be published from time to time.

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Documents

1 official file

• Introduced in House

  summary · EN · 5 March 1973

  Open at official source

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