H.J.Res.68 - Proposing a balanced budget amendment to the Constitution of the United States.116th Congress (2019-2020) |
|Sponsor:||Rep. Green, Mark E. [R-TN-7] (Introduced 06/20/2019)|
|Committees:||House - Judiciary|
|Latest Action:||House - 06/28/2019 Referred to the Subcommittee on the Constitution, Civil Rights, and Civil Liberties. (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.68 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (06/20/2019)
This joint resolution proposes a constitutional amendment prohibiting total expenditures from exceeding total receipts for a fiscal year. The prohibition excludes expenditures for repayment of debt principal and receipts derived from borrowing.
For a national emergency, two-thirds of each chamber of Congress may authorize expenditures that exceed receipts for limited times. Debts incurred from the expenditures must be paid as soon as practicable.
The amendment requires a two-thirds roll call vote of each chamber of Congress to increase the public debt limit. It also requires the President to submit a balanced budget to Congress annually.
If the President does not submit a balanced budget for a fiscal year, any executive actions may be unilaterally overturned by a simple majority vote of each of chamber of Congress until the President submits a balanced budget.