H.J.Res.2 - Proposing a balanced budget amendment to the Constitution of the United States.114th Congress (2015-2016)
|Sponsor:||Rep. Goodlatte, Bob [R-VA-6] (Introduced 01/06/2015)|
|Committees:||House - Judiciary|
|Latest Action:||House - 01/12/2015 Referred to the Subcommittee on the Constitution and Civil Justice. (All Actions)|
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Summary: H.J.Res.2 — 114th Congress (2015-2016)All Information (Except Text)
Introduced in House (01/06/2015)
This joint resolution proposes a constitutional amendment prohibiting total outlays for a fiscal year from exceeding total receipts for that fiscal year unless Congress authorizes the excess by a three-fifths roll call vote of each chamber. The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing.
The amendment requires a three-fifths roll call vote of each chamber of Congress to increase the public debt limit. It requires a majority roll vote of each chamber to increase revenue. It also requires the President to submit a balanced budget to Congress annually.
Congress is authorized to waive these requirements when a declaration of war is in effect or if the United States is engaged in a military conflict which causes an imminent and serious military threat to national security.