H.J.Res.45 - Proposing a balanced budget amendment to the Constitution of the United States.110th Congress (2007-2008)
|Sponsor:||Rep. Gillibrand, Kirsten E. [D-NY-20] (Introduced 06/12/2007)|
|Committees:||House - Judiciary|
|Latest Action:||House - 06/25/2007 Referred to the Subcommittee on the Constitution, Civil Rights, and Civil Liberties. (All Actions)|
This bill has the status Introduced
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Summary: H.J.Res.45 — 110th Congress (2007-2008)All Information (Except Text)
Introduced in House (06/12/2007)
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.
Directs the President to submit a balanced budget to Congress annually.
Authorizes waivers of these provisions when a declaration of war is in effect or under other specified circumstances involving military conflict.
Requires the appropriate congressional committees to report implementing legislation to achieve a balanced budget without reducing the disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund to achieve that goal.