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

Bill: 118-hjres-15
Sponsor: full_name: Rep. Obernolte, Jay [R-CA-23]
Introduced: 2023-01-11
Policy area: Economics and Public Finance
Subjects: Budget deficits and national debt

Budget process

Constitution and constitutional amendments

Legislative rules and procedure

Presidents and presidential powers, Vice Presidents
Latest action: action_date: 2023-01-11
text: Referred to the House Committee on the Judiciary.

Summaries:
action_date: 2023-01-11
action_desc: Introduced in House
text: <p>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 two-thirds roll call vote of each chamber. The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing.</p> <p>The amendment also requires the President to submit an annual budget in which total outlays do not exceed total receipts. </p>

tv_txt: IA 118th CONGRESS 1st Session H. J. RES. 15 IN THE HOUSE OF REPRESENTATIVES January 11, 2023 Mr. Obernolte 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. Total outlays for any fiscal year shall not exceed total receipts for that fiscal year, unless two-thirds 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. 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 shall enforce and implement this article by appropriate legislation, which may rely on estimates of outlays and receipts. 4. 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. 5. This article shall take effect beginning with the fifth fiscal year beginning after its ratification. .