Proposing a balanced budget amendment to the Constitution of the United States.

Constitutional Amendment - Prohibits 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 three-fifths rollcall vote of each chamber, authorizes a specific excess of outlays over receipts.

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

Authorizes waivers of these provisions when a declaration of war is in effect or under other specified circumstances involving military conflict.

Requires the appropriate congressional committees to report implementing legislation to achieve a balanced budget without reducing the disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund to achieve that goal.

[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.J. Res. 78 Introduced in House (IH)]

111th CONGRESS
  2d Session
H. J. RES. 78

Proposing a balanced budget amendment to the Constitution of the United 
                                States.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 2, 2010

 Mr. Bright (for himself, Mr. Bishop of Georgia, Mr. Boyd, Ms. Herseth 
 Sandlin, Mr. Hill, Mr. Patrick J. Murphy of Pennsylvania, Mr. Barrow, 
 Mr. Melancon, Mr. Childers, Mr. Minnick, Mr. Boswell, Mr. Cooper, Ms. 
     Markey of Colorado, Mr. Salazar, Mr. Taylor, Mr. Thompson of 
   California, Mr. McIntyre, Mr. Moore of Kansas, Mr. Matheson, Mr. 
  Tanner, Mr. Boren, Mr. Ellsworth, Mr. Ross, Mr. Berry, Mr. Davis of 
   Tennessee, Mr. Michaud, Mr. Donnelly of Indiana, Ms. Harman, Mr. 
Kratovil, Mr. Marshall, Ms. Giffords, Mr. Nye, Mr. Cardoza, Mr. Wilson 
  of Ohio, Mr. Cuellar, and Mr. Costa) introduced the following joint 
    resolution; which was referred to the Committee on the Judiciary

_______________________________________________________________________

                            JOINT RESOLUTION


 
Proposing a balanced budget amendment to the Constitution of the United 
                                States.

    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 seven years after the date of its submission for ratification:

                              ``Article--

    ``Section 1. Total outlays for any fiscal year shall not exceed 
total receipts for that fiscal year, unless three-fifths of the whole 
number of each House of Congress shall provide by law for a specific 
excess of outlays over receipts by a rollcall vote.
    ``Section 2. Prior to 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 3. The Congress may waive the provisions of this article 
for any fiscal year in which a declaration of war is in effect. The 
provisions of this article may be waived for any fiscal year in which 
the United States is engaged in military conflict which causes an 
imminent and serious military threat to national security and is so 
declared by a joint resolution, adopted by a majority of the whole 
number of each House, which becomes law.
    ``Section 4. The Congress shall enforce and implement this article 
by appropriate legislation, which may rely on estimates of outlays and 
receipts. The appropriate committees of the House of Representatives 
and the Senate shall report to their respective Houses implementing 
legislation to achieve a balanced budget without reducing the 
disbursements of the Federal Old-Age and Survivors Insurance Trust Fund 
and the Federal Disability Insurance Trust Fund to achieve that goal.
    ``Section 5. 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 for those for repayment of debt principal.
    ``Section 6. This article shall take effect beginning with the 
later of the second fiscal year beginning after its ratification or the 
first fiscal year beginning after December 31, 2020.''.
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