Proposing an amendment to the Constitution to provide for a balanced budget for the United States Government and for greater accountability in the enactment of tax legislation.

Summary

Constitutional Amendment - Requires the Congress and the President, prior to each fiscal year, to agree on an estimate of total receipts (except those derived from borrowing) for that fiscal year by enactment of a joint single subject resolution. Prohibits outlays for that year (except those for repayment of debt principal) from exceeding this amount unless the Congress, by a three-fifths rollcall vote of each House, authorizes a specific excess of outlays over receipts. Requires the Congress, whenever actual outlays exceed actual receipts for any fiscal year, to provide by law for the repayment of the excess in the ensuing fiscal year. Requires a three-fifths rollcall vote of each House to increase the public debt. Directs the President to submit a balanced budget to the Congress. Requires the approval of a majority of the total membership of each House by rollcall vote before any bill to increase revenue may become law. Waives these provisions when a declaration of war is in effect.

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

Timeline

1. 3 January 1989

   Introduced

   Referred to the House Committee on Judiciary.

   Source: IntroReferral

2. 3 January 1989

   Introduced

   Introduced in House

   Source: IntroReferral

3. 3 January 1989

   Introduced

   Introduced in House

   Source: IntroReferral

4. 27 March 1989

   Referred

   Referred to the Subcommittee on Economic and Commercial Law.

   Source: Committee

5. 17 July 1990

   Committee

   For Further Action See H.J.Res.268.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · undated · Official file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 3 January 1989

  Open at official source

Sponsors

• Rep. Lloyd, Marilyn [D-TN-3] · D · Sponsor
• Rep. Derrick, Butler C. [D-SC-3] · D · Cosponsor
• · hsju00 · Standing

Related records

• related to → Proposing an amendment to the Constitution to provide for a balanced budget for the United States Government and for greater accountability in the enactment of tax legislation.
• related to ← Proposing an amendment to the Constitution to provide for a balanced budget for the United States Government and for greater accountability in the enactment of tax legislation.