H.J.Res.21 - Proposing a balanced budget amendment to the Constitution of the United States.110th Congress (2007-2008)
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|Sponsor:||Rep. Buchanan, Vern [R-FL-13] (Introduced 01/31/2007)|
|Committees:||House - Judiciary|
|Latest Action:||03/01/2007 Referred to the Subcommittee on the Constitution, Civil Rights, and Civil Liberties. (All Actions)|
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.21 — 110th Congress (2007-2008)All Bill Information (Except Text)
Introduced in House (01/31/2007)
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 chamber, authorizes a specific excess of outlays over receipts.
Requires a three-fifths rollcall vote of each chamber 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 chamber by rollcall vote.
Authorizes waivers of these provisions when a declaration of war is in effect or under other specified circumstances involving military conflict.
Requires Congress, by appropriate legislation, to provide that outlays for natural disasters do not count as outlays under this Amendment.