H.J.Res.18 - Proposing a balanced budget amendment to the Constitution of the United States.112th Congress (2011-2012)
|Sponsor:||Rep. Terry, Lee [R-NE-2] (Introduced 01/07/2011)|
|Committees:||House - Judiciary|
|Latest Action:||House - 01/24/2011 Referred to the Subcommittee on the Constitution. (All Actions)|
This bill has the status Introduced
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Summary: H.J.Res.18 — 112th Congress (2011-2012)All Information (Except Text)
Introduced in House (01/07/2011)
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 three-fifths 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.