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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.
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 fol-
lowing article is proposed as an amendment to the Con-
stitution 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:
•HJ 49 IH1S
‘‘ARTICLE —
‘‘SECTION 1. Total outlays of the operating funds of
the United States for any fiscal year shall not exceed total
receipts to those funds for that fiscal year plus any operat-
ing fund balances carried over from previous fiscal years.
‘‘SECTION 2. 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 de-
clared by a joint resolution, adopted by a majority of the
whole number of each House of the Congress, that be-
comes law. If real economic growth has been or will be
negative for two consecutive quarters, Congress may by
law waive the article for the current and the next fiscal
year.
‘‘SECTION 3. Not later than the first Monday in Feb-
ruary in each calendar year, the President shall transmit
to the Congress a proposed budget for the United States
Government for the fiscal year beginning in that calendar
year in which total outlays of the operating funds of the
United States for that fiscal year shall not exceed total
receipts to those funds for that fiscal year.
•HJ 49 IH1S
‘‘SECTION 4. Total receipts of the operating funds
shall exclude those derived from net borrowing. Total out-
lays of the operating funds of the United States shall ex-
clude those for repayment of debt principal and for capital
investments in physical infrastructure that provide long-
term economic returns but shall include an annual debt
servicing charge. The receipts (including attributable in-
terest) and outlays of the Federal Old-Age and Survivors
Insurance Trust Fund and the Federal Disability Insur-
ance Trust Fund shall not be counted as receipts or out-
lays for purposes of this article.
‘‘SECTION 5. This article shall be implemented and
enforced only in accordance with appropriate legislation
enacted by Congress, which may rely on estimates of out-
lays and receipts.
‘‘SECTION 6. This section and section 5 of this article
shall take effect upon ratification. All other sections of this
article shall take effect beginning with fiscal year 2002
or the second fiscal year beginning after its ratification,
whichever is later.’’.
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