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 that fiscal year unless Congress authorizes the excess by a three-fifths roll call vote of each chamber.
The prohibition excludes outlays for repayment of debt principal, receipts derived from borrowing, and receipts or outlays of the Social Security and Medicare trust funds.
The amendment requires the President to annually submit to Congress a budget in which total outlays do not exceed total receipts.
The balanced budget requirement does not apply if:
The amendment prohibits a court from enforcing the requirements by ordering cuts to Social Security or Medicare payments unless the funds available to the trust fund for a program are not sufficient to cover the outlays that would occur during the year if the fund were fully solvent.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.J. Res. 107 Introduced in House (IH)]

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115th CONGRESS
  1st Session
H. J. RES. 107

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


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 29, 2017

   Mrs. Murphy of Florida (for herself, Mr. Cooper, Ms. Sinema, Mr. 
  Correa, Mr. Schrader, and Mr. Costa) 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 
within seven years after the date of its submission by the Congress:

                              ``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 roll call vote.
    ``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. Sections 1 and 2 of this article shall not apply 
during any fiscal year in which a declaration of war is in effect or 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.
    ``Section 4. Section 1 of this article shall not apply during a 
fiscal year if, during that fiscal year or the preceding fiscal year, 
the economy of the United States grew by less than an annualized rate 
of 0.0 percent in real gross domestic product during 2 or more 
consecutive quarters or the unemployment rate was more than 7 percent 
during 2 or more consecutive months.
    ``Section 2 of this article shall not apply to a fiscal year if, 
during the 1-year period ending on the date on which the President 
transmits to Congress a proposed budget for the United States 
Government for that fiscal year, the economy of the United States grew 
by less than an annualized rate of 0.0 percent in real gross domestic 
product during 2 or more consecutive quarters or the unemployment rate 
was more than 7 percent during 2 or more consecutive months.
    ``Section 5. Congress shall enforce and implement this article by 
appropriate legislation, which may rely on estimates of outlays and 
receipts.
    ``Section 6. Except as provided in the second clause, total 
receipts shall include all receipts of the United States Government 
other than those derived from borrowing, and total outlays shall 
include all outlays of the United States Government other than those 
for repayment of debt principal.
    ``For each fiscal year, the receipts (including attributable 
interest) and outlays of the Federal Old-Age and Survivors Insurance 
Trust Fund, the Federal Medicare Hospital Insurance Trust Fund, the 
Federal Disability Insurance Trust Fund, or any fund that is a 
successor to any such fund, shall not be considered to be receipts or 
outlays for purposes of this Article.
    ``Section 7. No court of the United States or of any State shall 
enforce this article by ordering any reduction in Social Security or 
Medicare payments authorized by law, including any amounts paid from 
the Federal Old-Age and Survivors Insurance Trust Fund, the Federal 
Medicare Hospital Insurance Trust Fund, the Federal Disability 
Insurance Trust Fund, or any fund that is a successor to any such fund, 
unless the receipts (including attributable interest) and other amounts 
available for that fund for the applicable fiscal year are not 
sufficient to cover the outlays that would otherwise occur during that 
fiscal year if the fund were fully solvent.
    ``Section 8. This article shall take effect beginning with the 
fifth fiscal year beginning after its ratification.''.
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