H.J.Res.496 - Proposing an amendment to the Constitution of the United States to provide for a balanced budget of the United States Government.102nd Congress (1991-1992)
|Sponsor:||Rep. Gephardt, Richard A. [D-MO-3] (Introduced 05/28/1992)|
|Committees:||House - Judiciary|
|Latest Action:||House - 06/01/1992 Referred to the Subcommittee on Economic and Commercial Law. (All Actions)|
This bill has the status Introduced
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Summary: H.J.Res.496 — 102nd Congress (1991-1992)All Information (Except Text)
Introduced in House (05/28/1992)
Constitutional Amendment - Requires the President, prior to each fiscal year, to propose to the Congress a budget in which total expenditures do not exceed total receipts, unless that budget is accompanied by a Presidential Declaration of National Urgency.
Prohibits the Congress from approving total expenditures in excess of total receipts unless it has approved by majority rollcall vote in each House a Presidential Declaration of National Urgency.
Prohibits the Congress from approving a budget which is estimated to result in a higher amount of total expenditures than those recommended by the President.
Declares that total expenditures do not include debt redemption and disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund, or any successor funds. Declares that total receipts do not include net borrowing and receipts of such trust funds or successor funds.