S.J.Res.10 - Joint resolution proposing a balanced budget amendment to the Constitution of the United States.112th Congress (2011-2012)
|Sponsor:||Sen. Hatch, Orrin G. [R-UT] (Introduced 03/31/2011)|
|Committees:||Senate - Judiciary|
|Latest Action:||12/14/2011 Failed of passage in Senate by Yea-Nay Vote. 47 - 53. Record Vote Number: 229.|
|Major Recorded Votes:||12/14/2011 : Failed Senate|
This bill has the status Failed Senate
Here are the steps for Status of Legislation:
- Failed Senate
Subject — Policy Area:
- Economics and Public Finance
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Summary: S.J.Res.10 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in Senate (03/31/2011)
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 two-thirds roll call vote of each chamber, authorizes a specific excess of outlays over receipts.
Prohibits total outlays for any fiscal year from exceeding 18% of the gross domestic product (GDP) for the preceding calendar year unless Congress, by a two-thirds roll call vote of each chamber, authorizes a specific excess over such 18%.
Directs the President to submit a balanced budget to Congress annually.
Prohibits any bill from becoming law that imposes a new tax or increases the statutory rate of any tax or the aggregate amount of revenue, unless approved by a two-thirds roll call vote of each chamber.
Requires a three-fifths roll call vote of each chamber to increase the federal debt limit.
Authorizes waivers of these requirements: (1) when a declaration of war is in effect against a nation-state and Congress, by a majority roll call vote of each chamber, authorizes a specific excess; or (2) under other specified circumstances involving military conflict, if Congress, by a three-fifths roll call vote of each chamber, authorizes such waiver.
Prohibits a federal or state court from ordering any increase in revenue to enforce this article.