Balanced Budget and Accounting Act

Bill: 118-hr-7656
Sponsor: full_name: Rep. Feenstra, Randy [R-IA-4]
Introduced: 2024-03-13
Policy area: Economics and Public Finance
Latest action: action_date: 2024-03-13
text: Referred to the House Committee on the Budget.

Summaries:
action_date: 2024-03-13
action_desc: Introduced in House
text: <p><strong>Balanced Budget and Accounting Act</strong></p><p>This bill requires the President's annual budget to be a balanced budget in which total outlays do not exceed total receipts during the applicable fiscal year.</p>

tv_txt: I 118th CONGRESS 2d Session H. R. 7656 IN THE HOUSE OF REPRESENTATIVES March 13, 2024 Mr. Feenstra (for himself, Mr. Bergman , Mrs. Spartz , Mr. Mann , Mrs. Bice , and Mr. Nunn of Iowa ) introduced the following bill; which was referred to the Committee on the Budget A BILL To amend title 31, United States Code, to require the President to submit a balanced budget to Congress, and for other purposes.

1. Short title This Act may be cited as the Balanced Budget and Accounting Act . 2. Requiring Presidents annual budget to be balanced budget Section 1105(a) of title 31, United States Code, is amended in the matter preceding paragraph (1) by inserting after the first sentence the following: Each budget shall be a balanced budget, and under each budget total outlays may not exceed total receipts during the applicable fiscal year. .