A joint resolution proposing an amendment to the Constitution of the United States which requires (except during time of war and subject to suspension by the Congress) that the total amount of money expended by the United States during any fiscal year not exceed the amount of certain revenue received by the United States during such fiscal year and not exceed 20 per centum of the gross national product of the United States during the previous calendar year.

Summary

Constitutional Amendment - Prohibits the total amount of money expended by the United States in any fiscal year from exceeding the total amount of revenue received by the United States during such year, except revenue received from the issuance of bonds, notes, or other obligations. Prohibits the total amount of money expended by the United States in any fiscal year from exceeding the amount equal to 20 percent of the gross national product during the last calendar year ending before the beginning of such fiscal year. Permits the suspension of such prohibitions during any fiscal year during any part of which the United States is at war as declared by the Congress.

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

Timeline

1. 9 April 1987

   Introduced

   Read twice and referred to the Committee on Judiciary.

   Source: IntroReferral

2. 9 April 1987

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 28 April 1987

   Referred

   Referred to Subcommittee on Constitution.

   Source: Committee

4. 23 March 1988

   Committee

   Subcommittee on Constitution. Hearings held.

   Source: Committee

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 9 April 1987

  Open at official source

Sponsors

• Sen. Shelby, Richard C. [R-AL] · D · Sponsor
• · ssju00 · Standing

Related records

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