H.J.Res.107 - Proposing a balanced budget amendment to the Constitution of the United States.115th Congress (2017-2018) |
|Sponsor:||Rep. Murphy, Stephanie N. [D-FL-7] (Introduced 06/29/2017)|
|Committees:||House - Judiciary|
|Latest Action:||House - 06/29/2017 Referred to the Subcommittee on the Constitution and Civil Justice. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.J.Res.107 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (06/29/2017)
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, receipts derived from borrowing, and receipts or outlays of the Social Security and Medicare trust funds.
The amendment requires the President to annually submit to Congress a budget in which total outlays do not exceed total receipts.
The balanced budget requirement does not apply if:
- a declaration of war is in effect or if the United States is engaged in military conflict which causes an imminent and serious military threat to national security, or
- during the fiscal year or preceding fiscal year, the U.S. economy grew by less than 0% in real gross domestic product during two or more consecutive quarters or the unemployment rate was more than 7% during two or more consecutive months.
The amendment prohibits a court from enforcing the requirements by ordering cuts to Social Security or Medicare payments unless the funds available to the trust fund for a program are not sufficient to cover the outlays that would occur during the year if the fund were fully solvent.