To amend the Constitution of the United States to provide for balanced budgets and elimination of the Federal indebtedness.

Summary

Constitutional Amendment - Directs the Congress to assure that total fiscal year Federal outlays do not exceed receipts and that Federal indebtedness is eliminated. Presents a mandatory six fiscal year timetable for achieving a balanced budget. Permits waiver of these balanced budget requirements (not to exceed a ten percent receipt to outlay deficit) in times of national emergency, but only by roll call vote of three-fourths of the total membership of both Houses. Requires a surplus budget with total Government receipts exceeding outlays by two and one-half percent of Federal indebtedness during the 40 fiscal years following achievement of a balanced budget. Requires that any indebtedness ensuing after an emergency waiver shall be extinguished within three fiscal years of being incurred.

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

Timeline

1. 26 January 1993

   Introduced

   Referred to the House Committee on Judiciary.

   Source: IntroReferral

2. 26 January 1993

   Introduced

   Introduced in House

   Source: IntroReferral

3. 26 January 1993

   Introduced

   Introduced in House

   Source: IntroReferral

4. 10 February 1993

   Referred

   Referred to the Subcommittee on Economic and Commercial Law.

   Source: Committee

5. 17 March 1994

   Committee

   See H.J.Res.103.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 26 January 1993 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 26 January 1993

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 26 January 1993

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 26 January 1993

  Open at official source

Sponsors

• Rep. Jacobs, Andrew, Jr. [D-IN-11] · D · Sponsor
• · 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.