Description: H.Amdt. 603 — 102nd Congress (1991-1992)All Information (Except Text)

Amendment in the nature of a substitute sought to: require Congress each year to adopt a statement in which outlays do not exceed receipts; place a permanent ceiling on the amount of Federal public debt; place a limit on the annual growth of Federal receipts; and waive the above provisions after a declaration of war or by a three-fifths roll call vote of both Houses.


An amendment in the nature of a substitute which retains the prohibitions in the original text against the expenditure of any funds in excess of projected revenues without the concurrence of both Houses by a three-fifths vote, and adds an additional requirement that projected revenue estimates not exceed the rate of increase in national income of the second prior fiscal year, unless Congress, by a three-fifths vote, enacts specific offsetting tax increases.

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