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

Bill: 118-hjres-80
Sponsor: full_name: Rep. Moran, Nathaniel [R-TX-1]
Introduced: 2023-07-06
Policy area: Economics and Public Finance
Latest action: action_date: 2023-07-13
text: Sponsor introductory remarks on measure. (CR H3601)

Summaries:
action_date: 2023-07-06
action_desc: Introduced in House
text: <p>This joint resolution proposes a constitutional amendment that requires federal expenditures and receipts to be balanced, which may occur over more than one year. </p> <p>Under the amendment, expenditures include all federal expenditures except those for payment of debt. Receipts do not include receipts derived from borrowing. </p> <p>The amendment requires Congress to achieve balance within 10 years of the ratification of the amendment.</p> <p>In an emergency situation, two-thirds of the House of Representatives and the Senate may authorize additional expenditures that are not otherwise permitted by the amendment. The additional expenditures must be for a limited time, and debts incurred from the expenditures must be paid as soon as practicable.</p>

tv_txt: IA 118th CONGRESS 1st Session H. J. RES. 80 IN THE HOUSE OF REPRESENTATIVES July 6, 2023 Mr. Moran 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.

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. Expenditures and receipts shall be balanced, which may occur over more than one year. Expenditures shall include all expenditures of the United States except those for payment of debt, and receipts shall include all receipts of the United States except those derived from borrowing. Congress shall achieve balance within ten years following the ratification of this article. 2. For emergency situations, two-thirds of the House of Representatives and the Senate may for limited times authorize expenditures exceeding those pursuant to rules established under section 1. Debts incurred from such expenditures shall be paid as soon as practicable. .