H.J.Res.58 - Proposing a balanced budget amendment the Constitution of the United States.109th Congress (2005-2006)
Joint ResolutionHide Overview icon-hide
|Sponsor:||Rep. Istook, Ernest J., Jr. [R-OK-5] (Introduced 07/13/2005)|
|Committees:||House - Judiciary|
|Latest Action:||08/23/2005 Referred to the Subcommittee on the Constitution.|
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Subject — Policy Area:
- Economics and Public Finance
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Summary: H.J.Res.58 — 109th Congress (2005-2006)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 rollcall vote of each House, authorizes a specific excess of outlays over receipts.
Introduced in House (07/13/2005)
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 or under other specified circumstances involving military conflict.