A joint resolution proposing an amendment to the Constitution relating to Federal budget procedures.

Summary

Constitutional Amendment - Requires the Congress prior to each fiscal year to adopt a statement in which total Federal outlays (except those for repayment of debt principal) do not exceed total receipts (except those derived from borrowing), unless a three-fifths vote of both Houses authorizes a specific excess. Limits the rate of increase in receipts in the statement to that of the increase in national income in the previous calendar year, unless law is enacted solely to approve specific additional receipts. Directs the President to submit a balanced budget. Authorizes waiver of these provisions in time of war. Sets a permanent limit on the amount of Federal public debt, prohibiting any increase unless legislation enacted by a three-fifths majority of both Houses becomes law.

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Timeline

1. 16 January 1991

   Introduced

   Read twice and referred to the Committee on Judiciary.

   Source: IntroReferral

2. 16 January 1991

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 20 February 1991

   Referred

   Referred to Subcommittee on Constitution.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · undated · Official file

Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 16 January 1991

  Open at official source

Sponsors

• Sen. Gramm, Phil [R-TX] · R · Sponsor
• · ssju00 · Standing

Related records

• related to → Proposing an amendment to the Constitution relating to Federal budget procedures.