Summary: H.J.Res.45 — 104th Congress (1995-1996)All Information (Except Text)

There is one summary for H.J.Res.45. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (01/04/1995)

Constitutional Amendment - Requires the Congress, prior to each fiscal year, to adopt a statement in which total Federal outlays do not exceed total receipts, unless a three-fifths vote of both Houses authorizes a specific excess.

Prohibits a bill to increase receipts from becoming law unless approved by a three-fifths majority in each House.

Directs the President to submit a balanced budget.

Waives these provisions when a declaration of war is in effect or when the United States faces an imminent and serious military threat to national security.

Sets a permanent limit on the amount of Federal public debt, prohibiting any increase unless legislation enacted by a three-fifths majority of both Houses becomes law.