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[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.J. Res. 61 Introduced in House (IH)]

103d CONGRESS
  1st Session
H. J. RES. 61

  Proposing an amendment to the Constitution of the United States to 
   provide that expenditures for a fiscal year shall neither exceed 
 revenues for such fiscal year nor 19 per centum of the Nation's gross 
national product for the last calendar year ending before the beginning 
                          of such fiscal year.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                            January 6, 1993

 Mr. Kyl (for himself and Mr. McCrery) 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 that expenditures for a fiscal year shall neither exceed 
 revenues for such fiscal year nor 19 per centum of the Nation's gross 
national product for the last calendar year ending before the beginning 
                          of such fiscal year.

    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 in this article, outlays of the 
United States Government for any fiscal year may not exceed its 
receipts for that fiscal year.
    ``Section 2. Expect as provided in this article, the outlays of the 
United States Government for a fiscal year may not exceed 19 per centum 
of the Nation's gross national product for that fiscal year.
    ``Section 3. The Congress may, by law, provide for suspension of 
the effect of sections 1 or 2 of this article for any fiscal year for 
which three-fifths of the whole number of each House shall provide, by 
a rollcall vote, for a specific excess of outlays over receipts or over 
19 per centum of the Nation's gross national product.
    ``Section 4. Total receipts shall include all receipts of the 
United States except those derived from borrowing and total outlays 
shall include all outlays of the United States except those for the 
repayment of debt principal.
    ``Section 5. The President shall have power, when any bill, 
including any vote, resolution, or order, which contains any item of 
spending authority, is presented to him pursuant to section 7 of 
article I of this Constitution, to separately approve, reduce, or 
disapprove any spending provision, or part of any spending provision, 
contained therein.
    ``When the President exercises this power, he shall signify in 
writing such portions of the bill he has approved and which portions he 
has reduced. These portions, to the extent not reduced, shall then 
become a law. The President shall return with his objections any 
disapproved or reduced portions of a bill to the House in which the 
bill originated. The Congress shall separately reconsider each such 
returned portion of the bill in the manner prescribed for disapproved 
bills in section 7 of article I of this Constitution. Any portion of a 
bill which shall not have been returned or approved by the President 
within ten days (Sundays excepted) after it shall have been presented 
to him shall become a law, unless the Congress by their adjournment 
prevent its return, in which case it shall not become a law.
    ``Section 6. Items of spending authority are those portions of a 
bill that appropriate money from the Treasury or that otherwise 
authorize or limit the withdrawal or obligation of money from the 
Treasury. Such items shall include, without being limited to, items of 
appropriations, spending authorizations, authority to borrow money on 
the credit of the United States or otherwise, dedications of revenues, 
entitlements, uses of assets, insurance, guarantees of borrowing, and 
any authority to incur obligations.
    ``Section 7. Sections 1, 2, 3, and 4 of this article shall apply to 
the third fiscal year beginning after its ratification and to 
subsequent fiscal years, but not to fiscal years beginning before 
October 1, 1997. Sections 5 and 6 of this article shall take effect 
upon ratification of this article.''.

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