S.J.Res.1 - A joint resolution proposing an amendment to the Constitution of the United States requiring that the Federal budget be balanced.113th Congress (2013-2014)
Joint ResolutionHide Overview icon-hide
|Sponsor:||Sen. Lee, Mike [R-UT] (Introduced 01/22/2013)|
|Committees:||Senate - Judiciary|
|Latest Action:||01/22/2013 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.1 — 113th Congress (2013-2014)All Bill Information (Except Text)
Introduced in Senate (01/22/2013)
Constitutional Amendment - Prohibits total 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).
Prohibits total outlays from exceeding 18% of the gross domestic product (GDP) for the calendar year ending before the beginning of such fiscal year.
Authorizes Congress to provide for suspension of the imposed limitations for any fiscal year for which two-thirds of each chamber shall provide, by a roll call vote, for a specific excess of outlays over receipts or over 18% of such GDP for such calendar year.
Prohibits any bill to levy a new tax or increase the rate of any tax from becoming law unless approved by a two-thirds roll call vote of each chamber.
Requires a two-thirds roll call vote of each chamber to increase the public debt limit.
Grants Members of Congress standing and a cause of action to seek judicial enforcement of this article when authorized to do so by a petition signed by one-third of the Members of either chamber. Prohibits a federal or state court from ordering any increase in revenue to enforce this article.