H.J.Res. 5 · 115th Congress
Proposing an amendment to the Constitution of the United States relative to balancing the budget.
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
BuchananSponsorNo cosponsors.
This joint resolution proposes a constitutional amendment prohibiting total outlays for a fiscal year from exceeding total receipts for that fiscal year unless Congress authorizes the excess by a two-thirds vote of each chamber. The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing.
What it does: CRS summary · Introduced in House · Jan 3, 2017
Constitutional Amendment
This joint resolution proposes a constitutional amendment prohibiting total outlays for a fiscal year from exceeding total receipts for that fiscal year unless Congress authorizes the excess by a two-thirds vote of each chamber. The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing.
The amendment prohibits total outlays for any fiscal year from exceeding 18% of the gross domestic product of the United States, unless two-thirds of each house of Congress provides for a specific increase above this amount.
The amendment requires a two-thirds vote of each chamber of Congress to impose a new tax, increase the statutory rate of any tax, or increase the aggregate amount of revenue. It requires a three-fifths vote of each chamber to increase the limit on the debt of the United States.
The President must submit an annual budget in which total outlays do not exceed total receipts and 18% of the gross domestic product of the United States.
The amendment prohibits a court from ordering a revenue increase to enforce the requirements.
Congress may waive specified requirements when a declaration of war is in effect or the United States is engaged in a military conflict which causes an imminent and serious military threat to national security.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Proposing an amendment to the Constitution of the United States relative to balancing the budget.
Latest action (Jan 3, 2017): Referred to the House Committee on the Judiciary.
Policy area: Economics and Public Finance · Origin: House · Introduced: Jan 3, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.