A joint resolution proposing an amendment to the Constitution relating to a Federal Balanced Budget.

Summary

Constitutional Amendment - Prohibits fiscal year Federal outlays (except those for repayment of debt principal) from exceeding receipts (except those derived from borrowing), unless the Congress authorizes a specific excess by a three-fifths vote of both Houses. Directs the President to submit to the Congress prior to each fiscal year a proposed budget that meets this standard. Permits any bill for raising taxes to become law only if a majority of the whole number of both Houses of Congress approves it by roll call vote. Authorizes a waiver of these provisions when a declaration of war is in effect.

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Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 25 January 1989

  Open at official source

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