H.J.Res.6 - Proposing an amendment to the Constitution to provide for a balanced budget for the United States Government and for greater accountability in the enactment of tax legislation.108th Congress (2003-2004)
|Sponsor:||Rep. Emerson, Jo Ann [R-MO-8] (Introduced 01/07/2003)|
|Committees:||House - Judiciary|
|Latest Action:||03/06/2003 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.6 — 108th Congress (2003-2004)All Bill Information (Except Text)
Constitutional Amendment - Requires that prior to each fiscal year, the Congress and the President agree on an estimate of total receipts for that fiscal year by enactment into law of a joint resolution.
Introduced in House (01/07/2003)
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 rollcall vote of each House, authorizes a specific excess of outlays over receipts.
Requires that the Congress provide by law for the repayment in the ensuing fiscal year of outlays that exceed actual receipts for a given year.
Requires a three-fifths rollcall vote of each House to increase the public debt limit.
Directs the President to submit a balanced budget to Congress annually.
Prohibits any bill to increase revenue from becoming law unless approved by a majority of each House by rollcall vote.
Authorizes waivers of these provisions when a declaration of war is in effect.