II

104TH CONGRESS

1ST SESSION S. J. RES. 12

Proposing a balanced budget amendment to the Constitution of the United

States.

IN THE SENATE OF THE UNITED STATES

JANUARY 4, 1995

Mr. GRAMM 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.

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 with8 in 7 years after the date of its submission for ratification:
2

•SJ 12 IS

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 receipts shall become

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

15 number in 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
3

•SJ 12 IS

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 Federal public debt as

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

9 the ratification of this Article shall become a permanent

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

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

12 House of Congress shall have passed a bill approving such

13 increase and such bill 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 for the fis20 cal year 2002 or for the second fiscal year beginning after

21 its ratification, whichever is later.’’.

Æ