Title: Proposing a balanced budget amendment to the Constitution of the United States.
Policy area: Economics and Public Finance

Summary:
Constitutional Amendment
This joint resolution proposes a constitutional amendment prohibiting total outlays for a fiscal year from exceeding total receipts for the year, excluding outlays for repayment of debt principal and receipts derived from borrowing.
The President must submit an annual budget in which total outlays for the fiscal year do not exceed total receipts.
Congress may waive the requirements for any fiscal year in which:
Any waiver must identify and be limited to the specific increase for the year that is necessary for the military conflict or emergency. Any increase in spending pursuant to a waiver must be offset by a budget surplus within 10 years of the end of the waiver.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.J. Res. 110 Introduced in House (IH)]

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115th CONGRESS
  1st Session
H. J. RES. 110

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


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 19, 2017

Mr. Stivers (for himself and Mr. Cuellar) submitted the following joint 
    resolution; which was 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.
    ``Section 2. 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 3. 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. Any such waiver shall identify 
and be limited to the specific increase for that fiscal year made 
necessary by the identified military conflict. Any increase in spending 
related to any waiver provided by this section shall be offset by a 
budget surplus within ten fiscal years of the end of this waiver.
    ``Section 4. The Congress may waive the provisions of this article 
for any fiscal year in which a declaration of national emergency is in 
effect, as so declared by a joint resolution, adopted by a majority of 
the whole number of each House, which becomes law. Any such waiver 
shall identify and be limited to the specific increase for that fiscal 
year made necessary by the identified national emergency. Any increase 
in spending related to any waiver provided by this section shall be 
offset by a budget surplus within ten fiscal years of the end of this 
waiver.
    ``Section 5. The Congress shall enforce and implement this article 
by appropriate legislation, which may rely on estimates of outlays and 
receipts.
    ``Section 6. 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 7. This article shall take effect beginning with the 
tenth fiscal year after its ratification.''.
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