H.J.Res.18 - Proposing a balanced budget amendment to the Constitution of the United States.

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  • Official: Proposing a balanced budget amendment to the Constitution of the United States. as introduced.

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Introduced
 
House
Passes
 

 
01/07/11
 
 
 

Official Summary

Constitutional Amendment - Prohibits outlays for a fiscal year (except those for repayment of debt principal) from exceeding total receipts for that fiscal year (except those derived from borrowing) unless Congress, by a three-fifths rollcall vote of each chamber, authorizes a specific exce

Official Summary

Constitutional Amendment - Prohibits outlays for a fiscal year (except those for repayment of debt principal) from exceeding total receipts for that fiscal year (except those derived from borrowing) unless Congress, by a three-fifths rollcall vote of each chamber, authorizes a specific excess of outlays over receipts. Requires a three-fifths rollcall vote of each chamber to increase the public debt limit. Directs the President to submit a balanced budget to Congress annually. Prohibits any bill to increase revenue from becoming law unless approved by three-fifths of each chamber by rollcall vote. Authorizes waivers of these provisions when a declaration of war is in effect or under other specified circumstances involving military conflict.

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