A joint resolution to amend the Constitution to provide for a balanced budget.

Summary

Constitutional Amendment - Requires Congress to assure that the total outlays of the Government during any fiscal year, not including any outlays for the redemption of bonds, notes, or other obligations, shall not exceed total receipts. Requires Congress, beginning with the first fiscal year after the ratification of this article, to assure that total outlays during any fiscal year do not exceed 20 percent of the gross national product during the calendar year immediately preceding the beginning of such fiscal year. Permits suspension of either limitation in the case of a national emergency by a concurrent resolution agreed to by two-thirds of all the Members of each House of Congress.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 3 February 1981

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.