A joint resolution proposing an amendment to the Constitution of the United States relative to balancing the budget.

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. Prohibits total outlays for any fiscal year from exceeding 20% of the gross domestic product for the preceding calendar year unless Congress, by a two-thirds rollcall vote of each chamber, authorizes a specific excess over such 20%. Directs the President to submit a balanced budget to Congress annually. Prohibits any bill to increase federal taxes from becoming law unless approved by two-thirds of each chamber by rollcall vote. 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 · 26 January 2011

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 26 January 2011

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 26 January 2011

  Open at official source

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