A joint resolution proposing an amendment to the Constitution of the United States which requires (except during time of war and subject to suspension by the Congress) that the total amount of money expended by the United States during any fiscal year not exceed the amount of certain revenue received by the United States during such fiscal year and not exceed 20 per centum of the gross national product of the United States during the previous calendar year.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Jan 28, 1997)
Constitutional Amendment - Prohibits, except in time of war, Federal fiscal year expenditures from exceeding: (1) Federal revenues for that fiscal year, except revenue received from the issuance of bonds, notes, or other obligations of the United States; and (2) 20 percent of the gross national product for the preceding calendar year. Authorizes the Congress to suspend these prohibitions by concurrent resolution approved by a three-fifths vote of each House of Congress.
Makes this amendment effective on the first day of the first fischal year beginning after the date of its adoption.
What just happenedMar 19, 1997
Referred to Subcommittee on Constitution, Federalism, Property.
Who’s behind it
- Mar 19, 1997Committee
Referred to Subcommittee on Constitution, Federalism, Property.
Constitution, Civil Rights and Property Rights Subcommittee - Jan 28, 1997IntroReferral
Read twice and referred to the Committee on Judiciary.
Judiciary Committee - Jan 28, 1997IntroReferralB00100
Sponsor introductory remarks on measure. (CR S767-768)
- Jan 28, 1997IntroReferral10000
Introduced in Senate