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[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.J. Res. 21 Introduced in House (IH)]

                                     

104th CONGRESS
  1st Session
H. J. RES. 21

  Proposing an amendment to the Constitution of the United States to 
provide for budgetary reform by requiring the reduction of the deficit, 
   a balanced Federal budget, and the repayment of the national debt.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                            January 4, 1995

    Mr. Allard introduced the following joint resolution; which was 
               referred to the Committee on the Judiciary

_______________________________________________________________________

                            JOINT RESOLUTION

 
  Proposing an amendment to the Constitution of the United States to 
provide for budgetary reform by requiring the reduction of the deficit, 
   a balanced Federal budget, and the repayment of the national debt.

    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 when 
ratified by the legislatures of three-fourths of the several States 
within seven years after the date of its submission for ratification:

                              ``Article --

    ``Section 1. Except as provided by this Article, beginning with the 
fiscal year [1997] or for the first fiscal year beginning after 
ratification, whichever is later, the President shall submit a budget 
of revenues and outlays to Congress, and Congress shall adopt a budget 
that reduces the deficit existing the year prior to ratification of 
this Article by not less than 16.7 percent per year in order to balance 
the budget within 6 fiscal years.
    ``Section 2. Except as provided by this Article, beginning with the 
7th year beginning after ratification and for every year thereafter, 
budgeted outlays shall not exceed budgeted revenues.
    ``Section 3. Beginning with the 7th year after ratification, the 
actual revenues shall exceed actual outlays in order to provide for the 
reduction of the gross Federal debt which is outstanding at the end of 
the 6th year after ratification.
    ``The amount of such reduction will be equal to the amount required 
to amortize the debt over the next 24 years, in order to repay the 
entire debt by the end of the 30th year after ratification.
    ``Section 4. Congress may waive the provisions of this Article 
(except for section 5) for any fiscal year in which a declaration of 
war is in effect.
    ``Section 5. No bill to increase revenues shall become law unless 
approved by a majority of the total membership of each House of 
Congress by a roll call vote.
    ``Section 6. Congress shall review actual revenues on a quarterly 
basis and adjust appropriations to assure compliance with this Article.
    ``Section 7. For purposes of this Article, revenues shall include 
all revenues of the United States excluding borrowing and outlays shall 
include all outlays of the United States excluding repayment of debt 
principal.''.
                                 <all>
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