H.J.Res.98 - Proposing a balanced budget amendment to the Constitution of the United States.115th Congress (2017-2018) |
|Sponsor:||Rep. Ratcliffe, John [R-TX-4] (Introduced 04/08/2017)|
|Committees:||House - Judiciary|
|Latest Action:||House - 04/21/2017 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.98 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (04/08/2017)
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 two-thirds roll call vote of each chamber. The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing.
The amendment also:
- prohibits total outlays for any fiscal year from exceeding 18% of the economic output of the United States unless two-thirds of each chamber of Congress provides a specific increase in outlays above this amount;
- requires a three-fourths roll call vote of each chamber of Congress to increase the public debt limit;
- requires a two-thirds roll call vote of each chamber of Congress to increase revenue;
- requires the President to transmit to Congress a proposed balanced budget each year and prohibits the President from being compensated if the requirement is not met; and
- requires Congress to consider and approve a balanced budget each year and prohibits Members of Congress from being compensated if the requirement is not met.
Congress may 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.
The amendment prohibits a court from entering an order in any action that results in an increase in the collection of revenue.