Proposing a balanced budget amendment to the Constitution of the United States.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Oct 8, 2015)
Constitutional Amendment
This joint resolution proposes a constitutional amendment prohibiting total outlays of the operating funds of the United States from exceeding total receipts of those funds for a fiscal year unless Congress authorizes the excess by a three-fifths vote of each chamber.
The prohibition excludes:
- outlays for repayment of debt principal, capital investments, and Social Security; and
- receipts derived from net borrowing or Social Security.
The President must submit an annual budget in which total outlays for operating funds do not exceed total receipts for those funds for the fiscal year.
Congress may waive the requirements for two years if: (1) a declaration of war is in effect, or (2) the Congressional Budget Office estimates that real economic growth has been or will be less than 1% for two consecutive quarters during the two-year period.
Congress may also waive the requirements for any year in which the United States is engaged in military conflict which causes an imminent and serious military threat to national security.
What just happenedNov 3, 2015
Referred to the Subcommittee on the Constitution and Civil Justice.
Who’s behind it
- Introduced in HouseOct 8, 2015
- Nov 3, 2015Committee
Referred to the Subcommittee on the Constitution and Civil Justice.
Constitution and Limited Government Subcommittee - Oct 8, 2015IntroReferralH11100
Referred to the House Committee on the Judiciary.
Judiciary Committee - Oct 8, 2015IntroReferralIntro-H
Introduced in House
- Oct 8, 2015IntroReferral1000
Introduced in House