Amendment103rd Congress
Amendment in the nature of a substitute sought to establish separate capital and operating budgets for the Federal Government; require the operating budget to be in balance; exempt Social Security and the Federal Disability Insurance Trust Fund from balanced budget calculations; and prohibit Congress from authorizing deficit spending, except in the case of war, serious military threat, or recession.
- Amendment Number
- 470
- Description
- Amendment in the nature of a substitute sought to establish separate capital and operating budgets for the Federal Government; require the operating budget to be in balance; exempt Social Security and the Federal Disability Insurance Trust Fund from balanced budget calculations; and prohibit Congress from authorizing deficit spending, except in the case of war, serious military threat, or recession.
- Purpose
- An amendment in the nature of a substitute that would establish separate capital and operating federal budgets, only the latter of which would be required to be balanced. Social Security would be exempt from the provisions of the amendment. None of the supermajority provisions required by the original text and the other substitute amendments would be required to waive balanced budget provisions. The amendment would prohibit Congress from deficit spending, except in the case of war, serious military threat, or recession.
- Congress
- 103
- Type
- HAMDT
- Latest Action Date
- Mar 17, 1994
- Latest Action Text
- On agreeing to the Wise amendment (A003) Failed by recorded vote: 111 - 318 (Roll no. 64).
- Latest Action Time
- 15:14:12
- Submitted Date
- Mar 17, 1994
- Chamber
- House of Representatives
- Update Date
- Aug 15, 2021