H.J.Res.41 - 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
 

 
02/17/11
 
 
 

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. Directs the President to submit a balanced budget to Congress annually. Prohibits any bill to increase or decrease revenue from becoming law unless approved by a majority rollcall vote of each chamber. Authorizes waivers of these provisions when a declaration of war is in effect. Requires the appropriate congressional committees to report to their respective chambers implementing legislation to achieve a balanced budget without reducing the disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund to achieve that goal.

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