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105TH CONGRESS

1ST SESSION S. J. RES. 7

Proposing an amendment to the Constitution of the United States to require

a balanced budget.

IN THE SENATE OF THE UNITED STATES

JANUARY 21, 1997

Mr. GRAMM introduced the following joint resolution; which was read twice

and referred to the Committee on the Judiciary

JOINT RESOLUTION

Proposing an amendment to the Constitution of the United

States to require a balanced budget.

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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1 ‘‘ARTICLE—

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

3 by law, adopt a statement of receipts and outlays for such

4 fiscal year in which total outlays are not greater than total

5 receipts. Congress may, by law, amend that statement pro6 vided revised outlays are not greater than revised receipts.

7 Congress may provide in that statement for a specific ex8 cess of outlays over receipts by a vote directed solely to

9 that subject in which three-fifths of the whole number of

10 each House agree to such excess. Congress and the Presi11 dent shall ensure that actual outlays do not exceed the

12 outlays set forth in such statement.

13 ‘‘SECTION 2. No bill to increase tax revenue shall be14 come law unless approved by a three-fifths majority of the

15 whole number of each House of Congress.

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

17 shall transmit to Congress a proposed statement of re18 ceipts and outlays for such fiscal year consistent with the

19 provisions of this Article.

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

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

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

23 waived for any fiscal year in which the United States faces

24 an imminent and serious military threat to national secu25 rity and is so declared by a joint resolution, adopted by
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1 a majority of the whole number of each House, which be2 comes law.

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

4 of the United States except those derived from borrowing

5 and total outlays shall include all outlays of the United

6 States except those for the repayment of debt principal.

7 ‘‘SECTION 6. The amount of the debt of the United

8 States held by the public as of the date this Article takes

9 effect shall become a permanent limit on such debt and

10 there shall be no increase in such amount unless three11 fifths of the whole number of each House of Congress shall

12 have passed a bill approving such increase and such bill

13 has become law.

14 ‘‘SECTION 7. All votes taken by the House of Rep15 resentatives or the Senate under this Article shall be roll16 call votes.

17 ‘‘SECTION 8. Congress shall enforce and implement

18 this Article by appropriate legislation.

19 ‘‘SECTION 9. This Article shall take effect of the fis20 cal year 2002 or for the second fiscal year beginning after

21 its ratification, whichever is later.’’.

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