Clerk session vote number: 24
Description: A joint resolution proposing an amendment to the Constitution of the United States to require a balanced budget.
Bill summary: Constitutional Amendment - Prohibits outlays for a fiscal year (except those for repayment of debt principal) from exceeding total receipts (except those derived from borrowing) for that fiscal year unless the Congress, by a three-fifths roll call vote of each House, authorizes a specific excess of outlays over receipts.
Requires a three-fifths roll call vote of each House to increase the public debt.
Directs the President to submit a balanced budget to the Congress.
Requires the approval of a
majority of each House by roll call vote before any bill to increase revenue may become law.
Authorizes the Congress to waive these provisions when: (1) a declaration of war is in effect; or (2) the United States is engaged in a military conflict which poses a threat to national security as declared by a joint resolution adopted by a majority of each House.
Makes this article effective beginning with FY 2002 or with the second fiscal year beginning after its ratification, whichever is later.
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Bill titles: A joint resolution proposing an amendment to the Constitution of the United States to require a balanced budget.
Links for more info on the vote: congress.gov