H.J.Res. 102 · 112th Congress
Proposing a balanced budget amendment to the Constitution of the United States.
Full title
Proposing a balanced budget amendment to the Constitution of the United States.
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
ChabotSponsor7 cosponsors · 7 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Constitutional Amendment - Prohibits total outlays (except those for payment of debt) for a year from exceeding the average annual revenue (except that derived from borrowing) collected in the three prior years, adjusted in proportion to changes in population and inflation.
What it does: CRS summary · Introduced in House · Feb 14, 2012
Constitutional Amendment - Prohibits total outlays (except those for payment of debt) for a year from exceeding the average annual revenue (except that derived from borrowing) collected in the three prior years, adjusted in proportion to changes in population and inflation.
Requires a two-thirds roll call vote of each chamber to declare an emergency and provide by law for specific outlays in excess of such limit.
Requires the declaration to specify reasons for the emergency designation and to limit the period in which outlays may exceed such limit to no longer than one year.
Requires all revenue in excess of outlays: (1) to reduce the federal debt; and (2) upon the retirement of such debt, to be held by the Treasury to be used for the specific outlays in excess of such limit.
Prescribes a formula for reducing outlays over seven years.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Proposing a balanced budget amendment to the Constitution of the United States.
Latest action (Feb 16, 2012): Referred to the Subcommittee on the Constitution.
Policy area: Economics and Public Finance · Origin: House · Introduced: Feb 14, 2012
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.