Proposing an amendment to the Constitution to provide for a balanced budget for the United States Government and for greater accountability in the enactment of tax and spending legislation.

Constitutional Amendment - Requires the Congress and the President, prior to each fiscal year, to agree on an estimate of total receipts (except those derived from borrowing) for that fiscal year by enactment of a joint single subject resolution. Prohibits outlays for that year (except those for repayment of debt principal) from exceeding this amount unless the Congress, by a three-fifths rollcall vote of each House, authorizes a specific excess of outlays over receipts.

Requires a three-fifths rollcall vote of each House to increase the public debt.

Directs the President to submit a balanced budget to the Congress.

Requires the amount by which outlays exceed receipts to be eliminated or reduced by equal amounts of outlay reductions and revenue increases, to be approved by a majority of each House by rollcall vote. Requires any elimination by unequal amounts of outlay reductions and revenue increases to be approved by three-fifths rollcall vote of each House. Requires amounts by which receipts exceed outlays to be used for reducing the public debt.

Prohibits total receipts for any fiscal year from increasing by a rate greater than the rate of increase in the gross national product in the second prior fiscal year, unless approved by a three-fifths rollcall of each House.

Waives these provisions when a declaration of war is in effect.

Makes this Act effective beginning with FY 1997 or with the second fiscal year beginning after its ratification.

 
HJ 386 IH
102d CONGRESS
1st Session
H. J. RES. 386
Proposing an amendment to the Constitution to provide for a balanced budget
for the United States Government and for greater accountability in the
enactment of tax and spending legislation.
IN THE HOUSE OF REPRESENTATIVES
November 26, 1991
Mr. KENNEDY (for himself, Mr. RICHARDSON, Mr. POSHARD, Mr. MURPHY,
Mr. STENHOLM, Mr. WILSON, Mr. DEFAZIO, Mr. BUSTAMANTE, Mr. CAMPBELL of
Colorado, Mr. SARPALIUS, Mr. OWENS of Utah, Mr. NEAL of Massachusetts,
and Mr. MCMILLEN of Maryland) introduced the following joint resolution;
which was referred to the Committee on the Judiciary
JOINT RESOLUTION
Proposing an amendment to the Constitution to provide for a balanced budget
for the United States Government and for greater accountability in the
enactment of tax and spending legislation.
  Resolved by the Senate and House of Representatives of the United States
  of America in Congress assembled, (two-thirds of each House concurring
  therein), That the following article is proposed as an amendment to the
  Constitution of the United States, which shall be valid to all intents and
  purposes as part of the Constitution when ratified by the legislatures of
  three-fourths of the several States within 7 years after the date of its
  submission for ratification:
`Article--
  `SECTION 1. Before each fiscal year, the Congress and the President shall
  agree on an estimate of total receipts for that fiscal year by enactment
  of a law devoted solely to that subject. Total outlays for that year
  shall not exceed the level of estimated receipts set forth in such law,
  unless three-fifths of the total membership of each House of Congress shall
  provide by law for a specific excess of outlays over estimated receipts
  by a rollcall vote.
  `SECTION 2. The limit on the public debt of the United States shall not
  be increased unless three-fifths of the total membership of each House
  shall provide by law for such an increase by a rollcall vote.
  `SECTION 3. Before each fiscal year, the President shall transmit to the
  Congress a proposed budget for the United States Government for that fiscal
  year in which total outlays do not exceed total receipts.
  `SECTION 4. For any fiscal year, any amount by which outlays exceed receipts
  shall be eliminated or reduced by equal amounts of outlay reductions and
  revenue increases, to be approved by a majority of the total membership of
  each House by a rollcall vote. Any elimination by unequal amounts of outlay
  reductions and revenue increases shall be approved by law by three-fifths
  of the total membership of each House by a rollcall vote. Any amount by
  which receipts exceed outlays shall be used for reducing the public debt.
  `SECTION 5. Total receipts for any fiscal year set forth in the law adopted
  pursuant to section 1 shall not increase by a rate greater than the rate
  of increase in the gross national product in the 2nd prior fiscal year,
  unless three-fifths of the total membership of each House shall approve
  by law specific additional receipts by a rollcall vote.
  `SECTION 6. The provisions of this article may be waived for any fiscal
  year in which a declaration of war is in effect.
  `SECTION 7. Total receipts shall include all receipts of the United States
  Government except those derived from borrowing. Total outlays shall include
  all outlays of the United States Government except those for the repayment
  of debt principal.
  `SECTION 8. Congress shall enforce and implement this Article by appropriate
  legislation.
  `SECTION 9. This Article shall take effect beginning with fiscal year 1997
  or with the 2nd fiscal year beginning after its ratification, whichever
  is later.'.