A joint resolution proposing a balanced budget amendment to the Constitution of the United States.

Summary

Constitutional Amendment - Prohibits outlays for a fiscal year (except those for repayment of debt principal) from exceeding total receipts for that fiscal year (except those derived from borrowing) unless Congress, by a two-thirds rollcall vote of each chamber, authorizes a specific excess of outlays over receipts. Requires a two-thirds rollcall vote of each chamber to increase the public debt limit. Directs the President to submit a balanced budget to Congress annually. Requires a two-thirds rollcall vote of each chamber for final adoption of any bill to increase the internal revenue. Authorizes waivers of these provisions when a declaration of war is in effect or under other specified circumstances involving military conflict.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 13 November 2007

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 13 November 2007

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 13 November 2007

  Open at official source

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