Protecting America's Solvency Act of 2015

Summary

Protecting America's Solvency Act of 2015 This bill increases the statutory debt limit by $1 trillion after Congress adopts a balanced budget Constitutional amendment and by an additional $1 trillion after the amendment is ratified by the states. To comply with the requirements of this bill, the amendment must: prohibit total outlays for a year from exceeding receipts, excluding receipts derived from borrowing and outlays for repayment of debt principal; permit the deficit prohibition to be suspended by a majority of both houses of Congress in any year in which the United States is actively engaged in military conflict pursuant to a war declared by Congress or by a fourth-fifths vote in any other year; require the President to ensure that total outlays for a fiscal year do not exceed receipts and consider the failure to prevent a deficit to be an impeachable offense; permit any Member of Congress, governor, or attorney general to have standing and a cause of action to seek judicial enforcement of the amendment; prohibit the President, a court, or any state from ordering a tax increase or other revenue measures to enforce the requirements; and phase-in the requirements using a specified schedule of declining deficits.

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Timeline

1. 27 October 2015

   Introduced

   Introduced in House

   Source: IntroReferral

2. 27 October 2015

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

3. 27 October 2015

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 27 October 2015 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 27 October 2015

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 27 October 2015

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 27 October 2015

  Open at official source

Sponsors

• Mo Brooks · R · Sponsor
• · hswm00 · Standing

Related records

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