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104TH CONGRESS

1ST SESSION H. J. RES. 49

Proposing an amendment to the Constitution to provide for a balanced budget

for the United States Government.

IN THE HOUSE OF REPRESENTATIVES

JANUARY 9, 1995

Mr. WISE (for himself, Mr. POMEROY, Mr. SAWYER, Mr. FOGLIETTA, Ms.

FURSE, and Ms. ESHOO) introduced the following joint resolution; which

was referred to the Committee on the Judiciary

JOINT RESOLUTION

Proposing an amendment to the Constitution to provide for

a balanced budget for the United States Government.

1 Resolved by the Senate and House of Representatives

2 of the United States of America in Congress assembled

3 (two-thirds of each House concurring therein), That the fol4 lowing article is proposed as an amendment to the Con5 stitution of the United States, which shall be valid to all

6 intents and purposes as part of the Constitution when

7 ratified by the legislatures of three-fourths of the several

8 States within seven years after the date of its submission

9 for ratification:
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•HJ 49 IH1S

1 ‘‘ARTICLE—

2 ‘‘SECTION 1. Total outlays of the operating funds of

3 the United States for any fiscal year shall not exceed total

4 receipts to those funds for that fiscal year plus any operat5 ing fund balances carried over from previous fiscal years.

6 ‘‘SECTION 2. The Congress may waive the provisions

7 of this article for any fiscal year in which a declaration

8 of war is in effect. The provisions of this article may be

9 waived for any fiscal year in which the United States is

10 engaged in military conflict which causes an imminent and

11 serious military threat to national security and is so de12 clared by a joint resolution, adopted by a majority of the

13 whole number of each House of the Congress, that be14 comes law. If real economic growth has been or will be

15 negative for two consecutive quarters, Congress may by

16 law waive the article for the current and the next fiscal

17 year.

18 ‘‘SECTION 3. Not later than the first Monday in Feb19 ruary in each calendar year, the President shall transmit

20 to the Congress a proposed budget for the United States

21 Government for the fiscal year beginning in that calendar

22 year in which total outlays of the operating funds of the

23 United States for that fiscal year shall not exceed total

24 receipts to those funds for that fiscal year.
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1 ‘‘SECTION 4. Total receipts of the operating funds

2 shall exclude those derived from net borrowing. Total out3 lays of the operating funds of the United States shall ex4 clude those for repayment of debt principal and for capital

5 investments in physical infrastructure that provide long6 term economic returns but shall include an annual debt

7 servicing charge. The receipts (including attributable in8 terest) and outlays of the Federal Old-Age and Survivors

9 Insurance Trust Fund and the Federal Disability Insur10 ance Trust Fund shall not be counted as receipts or out11 lays for purposes of this article.

12 ‘‘SECTION 5. This article shall be implemented and

13 enforced only in accordance with appropriate legislation

14 enacted by Congress, which may rely on estimates of out15 lays and receipts.

16 ‘‘SECTION 6. This section and section 5 of this article

17 shall take effect upon ratification. All other sections of this

18 article shall take effect beginning with fiscal year 2002

19 or the second fiscal year beginning after its ratification,

20 whichever is later.’’.

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