Proposing an amendment to the Constitution of the United States requiring that the Federal budget be balanced and that an increase in the Federal debt requires approval from a majority of the legislatures of the several States.

Bill: 114-hjres-8
Sponsor: full_name: Rep. Schweikert, David [R-AZ-6]
Introduced: 2015-01-06
Policy area: Economics and Public Finance
Subjects: Budget deficits and national debt

Constitution and constitutional amendments

Income tax rates

Legislative rules and procedure
Latest action: action_date: 2015-01-12
text: Referred to the Subcommittee on the Constitution and Civil Justice.

Summaries:
action_date: 2015-01-06
action_desc: Introduced in House
text: <p><b>Constitutional Amendment </b></p> <p>This joint resolution proposes a constitutional amendment prohibiting total outlays for a fiscal year from exceeding total receipts for that fiscal year or 18% of the U.S. gross domestic product unless Congress authorizes the excess by a two-thirds vote of each chamber. The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing. </p> <p>The amendment requires a two-thirds vote of each chamber of Congress to levy a new tax, increase the rate of any tax, or increase the debt limit. Approval by a majority of the state legislatures is required to increase the federal debt. </p> <p>The amendment provides any Member of Congress with standing and a cause of action to seek judicial enforcement of this amendment if authorized by a petition signed by one-third of the Members of either house of Congress. Courts are prohibited from ordering any increase in revenue to enforce this amendment. </p>

tv_txt: IA 114th CONGRESS 1st Session H. J. RES. 8 IN THE HOUSE OF REPRESENTATIVES January 6, 2015 Mr. Schweikert introduced 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 requiring that the Federal budget be balanced and that an increase in the Federal debt requires approval from a majority of the legislatures of the several States.

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:  — 1. Total outlays for any fiscal year shall not exceed total receipts for that fiscal year. 2. Total outlays shall not exceed 18 percent of the gross domestic product of the United States for the calendar year ending prior to the beginning of such fiscal year. 3. The Congress may provide for suspension of the limitations imposed by section 1 or 2 of this article for any fiscal year for which two-thirds of the whole number of each House shall provide, by a roll call vote, for a specific excess of outlays over receipts or over 18 percent of the gross domestic product of the United States for the calendar year ending prior to the beginning of such fiscal year. 4. Any bill to levy a new tax or increase the rate of any tax shall not become law unless approved by two-thirds of the whole number of each House of Congress by a roll call vote. 5. The limit on the debt of the United States held by the public shall not be increased unless two-thirds of the whole number of each House of Congress shall provide for such an increase by a roll call vote. 6. Any Member of Congress shall have standing and a cause of action to seek judicial enforcement of this article when authorized to do so by a petition signed by one-third of the Members of either House of Congress. No court of the United States or of any State shall order any increase in revenue to enforce this article. 7. The Congress shall have the power to enforce this article by appropriate legislation. 8. Total receipts shall include all receipts of the United States except those derived from borrowing. Total outlays shall include all outlays of the United States except those for repayment of debt principal. 9. An increase in the Federal debt requires approval from a majority of the legislatures of the several States. .