Title: Proposing an amendment to the Constitution of the United States to provide for balanced budgets for the Government.
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 that fiscal year, unless three-fifths of each chamber of Congress authorizes the excess with a rollcall vote. The authorization must include an adequate increase in the debt limit for the specific excess of outlays. The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing.
The President must submit a balanced budget to Congress annually.
Total outlays for the Social Security trust funds over 75 years must not exceed total receipts for 75 years, unless three-fifths of each chamber of Congress authorizes the specific excess by a rollcall vote.
Congress may waive the requirements by a rollcall vote for any year in which a declaration of war is in effect. The waiver must: (1) identify and be limited to the outlays necessary for the war, and (2) include an adequate increase in the debt limit for the specific excess of outlays.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.J. Res. 109 Introduced in House (IH)]

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115th CONGRESS
  1st Session
H. J. RES. 109

  Proposing an amendment to the Constitution of the United States to 
            provide for balanced budgets for the Government.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 19, 2017

    Mr. DeFazio submitted 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 for balanced budgets for the 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 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. Total outlays for any fiscal year shall not exceed 
total receipts for that fiscal year, unless three-fifths of the whole 
number of each House of Congress shall provide by law for a specific 
excess of outlays over receipts by a rollcall vote. Such a law must 
include an adequate increase in the debt limit for the specific excess 
of outlays.
    ``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 by a 
rollcall vote. Any such waiver must identify and be limited to the 
specific excess or increase for that fiscal year made necessary by the 
identified declaration of war. Such a declaration of war must include 
an adequate increase in the debt limit for the specific excess of 
outlays.
    ``Section 4. The Congress shall enforce and implement this article 
by appropriate legislation, which may rely on estimates of outlays and 
receipts.
    ``Section 5. Total outlays for the Federal Old-Age and Survivors 
Insurance Trust Fund and the Federal Disability Insurance Trust Fund 
over 75 years shall not exceed total receipts for 75 years, unless 
three-fifths of the whole number of each House of Congress shall 
provide by law for a specific excess of outlays over receipts by a 
rollcall vote.
    ``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 
fifth fiscal year beginning after its ratification.''.
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