A joint resolution proposing an amendment to the Constitution of the United States relative to Proposing an amendment to the Constitution of the United States which requires (except during time of war and subject to suspension by 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, except in time of a congressionally declared war, federal fiscal year expenditures from exceeding: (1) federal revenues for that fiscal year, except revenue received from the issuance of bonds, notes, or other obligations of the United States; and (2) 20% of the gross national product for the preceding calendar year. Authorizes suspension of these prohibitions by concurrent resolution approved by a three-fifths vote of each chamber.

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

Timeline

1. 1 October 2007

   Introduced

   Read twice and referred to the Committee on the Judiciary.

   Source: IntroReferral

2. 1 October 2007

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 1 October 2007 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 1 October 2007

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 1 October 2007

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 1 October 2007

  Open at official source

Sponsors

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

Related records

No cross-record relationships stored yet.