S.J.Res.39 - A joint resolution proposing a balanced budget amendment to the Constitution of the United States.115th Congress (2017-2018)
|Sponsor:||Sen. Donnelly, Joe [D-IN] (Introduced 03/30/2017)|
|Committees:||Senate - Judiciary|
|Latest Action:||Senate - 03/30/2017 Read twice and referred to the Committee on the Judiciary. (All Actions)|
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Summary: S.J.Res.39 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (03/30/2017)
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,
- receipts or outlays of the Social Security and Medicare trust funds, and
- outlays relating to a natural disaster if the law providing the funds explicitly exempts the funds from the requirement and is agreed to by a majority of each chamber of Congress.
The resolution 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 resolution 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.