H.J.Res.86 - Proposing a balanced budget amendment to the Constitution of the United States.107th Congress (2001-2002)
|Sponsor:||Rep. Istook, Ernest J., Jr. [R-OK-5] (Introduced 04/11/2002)|
|Committees:||House - Judiciary|
|Latest Action:||05/06/2002 Referred to the Subcommittee on the Constitution.|
This bill has the status Introduced
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Subject — Policy Area:
- Economics and Public Finance
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Summary: H.J.Res.86 — 107th Congress (2001-2002)All Bill Information (Except Text)
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 roll call vote of each House, authorizes a specific excess of outlays over receipts.
Introduced in House (04/11/2002)
Requires a three-fifths roll call vote of each House to increase the public debt limit.
Directs the President to submit a balanced budget to Congress.
Prohibits any bill to increase revenue from becoming law unless approved by a majority of each House.
Authorizes waivers of these provisions when a declaration of war is in effect or under other specified circumstances involving military conflict.