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

Bill: 114-hjres-86
Sponsor: full_name: Rep. DeFazio, Peter A. [D-OR-4]
Introduced: 2016-04-14
Policy area: Economics and Public Finance
Subjects: Budget deficits and national debt

Constitution and constitutional amendments

Disability assistance

Government trust funds

Legislative rules and procedure

Social security and elderly assistance
Latest action: action_date: 2016-04-28
text: Referred to the Subcommittee on the Constitution and Civil Justice.

Summaries:
action_date: 2016-04-14
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, 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. </p> <p>The President must submit a balanced budget to Congress annually.</p> <p> 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. </p> <p>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. </p>

tv_txt: IA 114th CONGRESS 2d Session H. J. RES. 86 IN THE HOUSE OF REPRESENTATIVES April 14, 2016 Mr. DeFazio 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 to provide for balanced budgets for the Government.

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, 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. 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. 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. 4. The Congress shall enforce and implement this article by appropriate legislation, which may rely on estimates of outlays and receipts. 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. 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. 7. This article shall take effect beginning with the fifth fiscal year beginning after its ratification. .