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[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S.J. Res. 24 Introduced in Senate (IS)]

110th CONGRESS
  1st Session
S. J. RES. 24

    Proposing a balanced budget amendment to the Constitution of the 
                             United States.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                           November 13, 2007

Mr. Graham (for himself and Mr. DeMint) introduced the following joint 
 resolution; which was read twice and referred to the Committee on the 
                               Judiciary

_______________________________________________________________________

                            JOINT RESOLUTION

 
    Proposing a balanced budget amendment to the Constitution of the 
                             United States.

    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:

                              ``Article--

    ``Section 1. Total outlays for any fiscal year shall not exceed 
total receipts for that fiscal year, unless two-thirds 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 two-thirds 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. A bill to increase the internal revenue shall require 
for final adoption in each House the concurrence of two-thirds of the 
whole number of that House by 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. The provisions of this article respecting the internal 
revenue shall take effect upon the date of ratification of this 
article. The remaining provisions of this article shall take effect 
beginning with the later of the second fiscal year beginning after its 
ratification or the first fiscal year beginning after December 31, 
2012.''.
                                 <all>
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