H.J.Res.40 - Proposing an amendment to the Constitution of the United States requiring that the Federal budget be balanced.116th Congress (2019-2020) |
|Sponsor:||Rep. Loudermilk, Barry [R-GA-11] (Introduced 01/30/2019)|
|Committees:||House - Judiciary|
|Latest Action:||House - 01/30/2019 Referred to the Subcommittee on the Constitution, Civil Rights, 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.40 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (01/30/2019)
This joint resolution proposes a constitutional amendment prohibiting total outlays for a fiscal year from exceeding total receipts for that fiscal year or 18% of the U.S. gross domestic product unless Congress authorizes the excess by a two-thirds vote of each chamber. The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing.
The amendment requires a two-thirds vote of each chamber of Congress to levy a new tax, increase the rate of any tax, or increase the debt limit.
The amendment provides any Member of Congress with standing and a cause of action to seek judicial enforcement of this amendment if authorized by a petition signed by one-third of the Members of either house of Congress. Courts are prohibited from ordering any increase in revenue to enforce this amendment.