S.J.Res.31 - A joint resolution proposing an amendment to the Constitution of the United States relative to require a balancing of the budget.109th Congress (2005-2006)
|Sponsor:||Sen. Allen, George [R-VA] (Introduced 02/15/2006)|
|Committees:||Senate - Judiciary|
|Latest Action:||Senate - 02/15/2006 Read twice and referred to the Committee on the Judiciary. (All Actions)|
This bill has the status Introduced
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Summary: S.J.Res.31 — 109th Congress (2005-2006)All Information (Except Text)
Introduced in Senate (02/15/2006)
Constitutional Amendment - Requires the U.S. budget deficit to be reduced to the following percentages of the amount of the deficit in the year this article is ratified: (1) 80% in the first fiscal year after ratification; (2) 60% in the second fiscal year after ratification; (3) 40% in the third fiscal year after ratification; and (4) 20% in the fourth fiscal year after ratification.
Prohibits U.S. expenditures from exceeding receipts for any fiscal year after the fourth fiscal year after ratification unless authorized by a law approved by three-fifths of each House of Congress.
Authorizes Congress to waive the provisions of this Act for any fiscal year in which a declaration of war is in effect. Requires any deficit that occurs as a result of such war to be reduced within five fiscal years following the war.