Proposing an amendment to the Constitution of the United States which requires (except during time of war and subject to suspension by 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 percent of the gross domestic product of the United States during the previous calendar year.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Sep 28, 2016)
Constitutional Amendment
This joint resolution proposes a constitutional amendment prohibiting the total amount of money expended by the United States during a fiscal year from exceeding total revenue received for that fiscal year, excluding revenue from the issuance of bonds, notes, or other obligations of the United States.
The amendment also: (1) prohibits the total amount of money expended by the United States in any fiscal year from exceeding 20% of the gross domestic product of the United States, and (2) requires the President to submit to Congress an annual budget in which total outlays do not exceed total revenues received.
The spending restrictions do not apply during a fiscal year in which a declaration of war is in effect, or if three-fifths of the Senate and two-thirds of the House of Representatives vote to suspend the restrictions.
What just happenedSep 28, 2016
Referred to the House Committee on the Judiciary.
Who’s behind it
- Introduced in HouseSep 28, 2016
- Sep 28, 2016IntroReferralH11100
Referred to the House Committee on the Judiciary.
Judiciary Committee - Sep 28, 2016IntroReferralIntro-H
Introduced in House
- Sep 28, 2016IntroReferral1000
Introduced in House