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 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 senate (Mar 18, 2021)
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 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.
The restrictions do not apply during a fiscal year in which a declaration of war is in effect, or if three-fifths of each chamber of Congress votes to suspend the restrictions.
What just happenedMar 18, 2021
Read twice and referred to the Committee on the Judiciary.
Who’s behind it
- Introduced in SenateMar 18, 2021
- Mar 18, 2021IntroReferral
Read twice and referred to the Committee on the Judiciary.
Judiciary Committee - Mar 18, 2021IntroReferral10000
Introduced in Senate