S.J.Res.38 - A joint resolution proposing a balanced budget amendment to the Constitution of the United States.111th Congress (2009-2010)
Joint ResolutionHide Overview icon-hide
|Sponsor:||Sen. DeMint, Jim [R-SC] (Introduced 08/03/2010)|
|Latest Action:||08/04/2010 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 511. (All Actions)|
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.38 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in Senate (08/03/2010)
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 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 before final adoption of any bill to increase internal revenue.
Authorizes waivers of these provisions when a declaration of war is in effect or under other specified circumstances involving military conflict.