Summary: H.J.Res.101 — 114th Congress (2015-2016)All Information (Except Text)

There is one summary for H.J.Res.101. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (09/28/2016)

Constitutional Amendment

This joint resolution proposes a constitutional amendment prohibiting the total amount of money expended by the United States during a fiscal year from exceeding total revenue received for that fiscal year, excluding revenue from the issuance of bonds, notes, or other obligations of the United States.

The amendment also: (1) prohibits the total amount of money expended by the United States in any fiscal year from exceeding 20% of the gross domestic product of the United States, and (2) requires the President to submit to Congress an annual budget in which total outlays do not exceed total revenues received.

The spending restrictions do not apply during a fiscal year in which a declaration of war is in effect, or if three-fifths of the Senate and two-thirds of the House of Representatives vote to suspend the restrictions.