S.J.Res. 7
A joint resolution proposing an amendment to the Constitution of the United States relative to balancing the budget.
Read twice and referred to the Committee on the Judiciary. (text of measure as introduced: CR S715-716)
Sponsor
Sen. Cornyn, John [R-TX]
Bill Details
- Update Date
- Mar 3, 2022
- Origin Chamber
- Senate
- Bill Type
- SJRES
- Joint Resolution Number
- 7
- Congress
- 113
- Introduced Date
- Feb 13, 2013
- Policy Area
- Economics and Public Finance
- Is Law
- No
Read twice and referred to the Committee on the Judiciary. (text of measure as introduced: CR S715-716)
Source: Senate
Introduced in Senate
Source: Library of Congress
Constitutional Amendment - Prohibits total 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 two-thirds roll call vote of each chamber, authorizes a specific excess of outlays over receipts.
Prohibits total outlays for any fiscal year from exceeding 18% of the gross domestic product (GDP) for the preceding calendar year unless Congress, by a two-thirds roll call vote of each chamber, authorizes a specific excess over such 18%.
Directs the President to submit a balanced budget to Congress annually.
Prohibits any bill from becoming law that imposes a new tax or increases the statutory rate of any tax or the aggregate amount of revenue, unless approved by a two-thirds roll call vote of each chamber.
Requires a three-fifths roll call vote of each chamber to increase the federal debt limit.
Authorizes waivers of these requirements: (1) when a declaration of war is in effect against a nation-state and Congress, by a majority roll call vote of each chamber, authorizes a specific excess; or (2) under other specified circumstances involving military conflict, if Congress, by a three-fifths roll call vote of each chamber, authorizes such waiver.
Prohibits a federal or state court from ordering any increase in revenue to enforce this article.
Judiciary Committee
Introduced in Senate
Feb 13, 2013