‘Section 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.
‘The limit on the debt of the United States held by the public shall not be increased, unless three-fifths of the whole number of each House shall provide by law for such an increase by a rollcall vote.
‘Prior to each fiscal year, the President shall transmit to Congress a proposed budget for the Federal Government for that fiscal year in which total outlays do not exceed total receipts.
‘No bill to increase revenue shall become law unless approved by a majority of the whole number of each House by a rollcall vote.
‘Congress may waive the provisions of this section for any fiscal year in which a declaration of war is in effect. The provisions of this section may be waived for any fiscal year in which the United States is engaged in military conflict which causes an imminent and serious military threat to national security and is so declared by a joint resolution, adopted by a majority of the whole number of each House, which becomes law.
‘Congress shall enforce and implement this section by appropriate legislation, which may rely on estimates of outlays and receipts.
‘In this section, total receipts shall include all receipts of the Federal Government except those derived from borrowing and total outlays shall include all outlays of the Federal Government except for those for repayment of debt principal.
‘Section 2. The President may, with respect to any bill or joint resolution that has been signed into law pursuant to section 7 of Article I, cancel in whole any dollar amount of discretionary budget authority, any item of new direct spending, or any limited tax benefit. The President shall notify Congress of such cancellation by transmitting a special message within 5 calendar days (excluding Sundays) after the enactment of the law providing the dollar amount of discretionary budget authority, item of new direct spending, or limited tax benefit that was canceled. Such special message shall be treated in the same manner as a bill which the President returns without signing under section 7 of Article I.
‘Congress shall not transmit a bill or joint resolution to the President that purports to or does require executive compliance with spending guidance contained in any report or other document that is beyond the text of the bill or joint resolution. Under this clause, the President shall retain the right to disregard any or all guidance in such accompanying reports or documents.
‘Section 3. This article shall take effect beginning with the first fiscal year after its ratification.’.
U.S. Congress - Text of S.J.Res.22 as Introduced in Senate A joint resolution proposing an amendment to the Constitution of the United States rela...
