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[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S.J. Res. 7 Introduced in Senate (IS)]

103d CONGRESS
  1st Session
S. J. RES. 7

       To provide for a Balanced Budget Constitutional Amendment.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

             January 21 (legislative day, January 5), 1993

  Mr. Gramm (for himself, Mr. Lott, Mr. Coverdell, Mr. Packwood, Mr. 
    McCain, Mr. Bond, Mr. Kempthorne, Mr. Gorton, Mr. Grassley, Mr. 
     Danforth, Mr. Helms, Mr. McConnell, Mr. Lugar, and Mr. Smith) 
  introduced the following joint resolution; which was read twice and 
               referred to the Committee on the Judiciary

_______________________________________________________________________

                            JOINT RESOLUTION

 
       To provide for a Balanced Budget Constitutional Amendment.

    Resolved by the Senate and House of Representatives of the United 
States of America in Congress assembled (two-thirds of each House 
concurring therein), That the following article is proposed as an 
amendment to the Constitution of the United States, which shall be 
valid to all intents and purposes as part of the Constitution if 
ratified by the legislatures of three-fourths of the several States 
within seven years after its submission to the States for ratification:

                              ``Article --

    ``Section 1. Total outlays for any fiscal year shall not exceed 
total receipts for that fiscal year, unless three-fifths of the whole 
number of each House of Congress shall provide by law for a specific 
excess of outlays over receipts by a rollcall vote.
    ``Section 2. The limit on the debt of the United States held by the 
public shall not be increased, unless three-fifths of the whole number 
of each House shall provide by law for such an increase by a rollcall 
vote.
    ``Section 3. Prior to each fiscal year, the President shall 
transmit to the Congress a proposed budget for the United States 
Government for that fiscal year, in which total outlays do not exceed 
total receipts.
    ``Section 4. No bill to increase revenue shall become law unless 
approved by a majority of the whole number of each House by a rollcall 
vote.
    ``Section 5. The Congress may waive the provisions of this article 
for any fiscal year in which a declaration of war is in effect. The 
provisions of this article may be waived for any fiscal year in which 
the United States is engaged in military conflict which causes an 
imminent and serious military threat to national security and is so 
declared by a joint resolution, adopted by a majority of the whole 
number of each House, which becomes law.
    ``Section 6. The Congress shall enforce and implement this article 
by appropriate legislation, which may rely on estimates of outlays and 
receipts.
    ``Section 7. Total receipts shall include all receipts of the 
United States Government except those derived from borrowing. Total 
outlays shall include all outlays of the United States Government 
except for those for repayment of debt principal.
    ``Section 8. This article shall take effect beginning with fiscal 
year 1999 or with the second fiscal year beginning after its 
ratification, whichever is later.''.

                                 <all>
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