S.J.Res.24 - A joint resolution proposing a balanced budget amendment to the Constitution of the United States.110th Congress (2007-2008)
Joint ResolutionHide Overview icon-hide
|Sponsor:||Sen. Graham, Lindsey [R-SC] (Introduced 11/13/2007)|
|Committees:||Senate - Judiciary|
|Latest Action:||11/13/2007 Read twice and referred to the Committee on the Judiciary.|
This bill has the status Introduced
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Subject — Policy Area:
- Economics and Public Finance
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Summary: S.J.Res.24 — 110th Congress (2007-2008)All Bill Information (Except Text)
Introduced in House (11/13/2007)
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 two-thirds rollcall vote of each chamber, authorizes a specific excess of outlays over receipts.
Requires a two-thirds rollcall vote of each chamber to increase the public debt limit.
Directs the President to submit a balanced budget to Congress annually.
Requires a two-thirds rollcall vote of each chamber for final adoption of any bill to increase the internal revenue.
Authorizes waivers of these provisions when a declaration of war is in effect or under other specified circumstances involving military conflict.