H.J.Res.78 - Proposing a balanced budget amendment to the Constitution of the United States.111th Congress (2009-2010)
|Sponsor:||Rep. Bright, Bobby [D-AL-2] (Introduced 03/02/2010)|
|Committees:||House - Judiciary|
|Latest Action:||06/15/2010 Referred to the Subcommittee on the Constitution, Civil Rights, and Civil Liberties.|
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.78 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in House (03/02/2010)
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.