IA

104TH CONGRESS

1ST SESSION H. J. RES. 45

Proposing a balanced budget amendment to the Constitution of the United

States.

IN THE HOUSE OF REPRESENTATIVES

JANUARY 4, 1995

Mr. STUMP introduced the following joint resolution; which was referred to the

Committee on the Judiciary

JOINT RESOLUTION

Proposing a balanced budget amendment to the Constitution

of the United States.

1 Resolved by the Senate and House of Representatives

2 of the United States of America in Congress assembled (two3 thirds of each House concurring therein), That the follow4 ing article is proposed as an amendment to the Constitu5 tion of the United States, which shall be valid to all intents

6 and purposes as part of the Constitution when ratified by

7 the legislatures of three-fourths of the several States with-
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1 in seven years after the date of its submission for ratifica2 tion:

3 ‘‘ARTICLE—

4 ‘‘SECTION 1. Prior to each fiscal year, Congress shall

5 adopt a statement of receipts and outlays for such fiscal

6 year in which total outlays are not greater than total re7 ceipts. Congress may amend such statement provided re8 vised outlays are not greater than revised receipts. Con9 gress may provide in such statement for a specific excess

10 of outlays over receipts by a vote directed solely to that

11 subject in which three-fifths of the whole number of each

12 House agree to such excess. Congress and the President

13 shall ensure that actual outlays do not exceed the outlays

14 set forth in such statement.

15 ‘‘SECTION 2. No bill to increase receipts shall become

16 law unless approved by a three-fifths majority of the whole

17 number of each House of Congress.

18 ‘‘SECTION 3. Prior to each fiscal year, the President

19 shall transmit to Congress a proposed statement of re20 ceipts and outlays for such fiscal year consistent with the

21 provisions of this Article.

22 ‘‘SECTION 4. Congress may waive the provisions of

23 this Article for any fiscal year in which a declaration of

24 war is in effect. The provisions of this Article may be

25 waived for any fiscal year in which the United States faces
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1 an imminent and serious military threat to national secu2 rity and is so declared by a joint resolution, adopted by

3 a majority of the whole number of each House, which be4 comes law.

5 ‘‘SECTION 5. Total receipts shall include all receipts

6 of the United States except those derived from borrowing

7 and total outlays shall include all outlays of the United

8 States except those for the repayment of debt principal.

9 ‘‘SECTION 6. The amount of Federal public debt as

10 of the first day of the second fiscal year beginning after

11 the ratification of this Article shall become a permanent

12 limit on such debt and there shall be no increase in such

13 amount unless three-fifths of the whole number of each

14 House of Congress shall have passed a bill approving such

15 increase and such bill has become law.

16 ‘‘SECTION 7. Congress shall enforce and implement

17 this Article by appropriate legislation.

18 ‘‘SECTION 8. This Article shall take effect for the fis19 cal year 2002, or for the second fiscal year beginning after

20 its ratification, whichever is later.’’.

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