S.J.Res.18 - A joint resolution proposing a balanced budget amendment to the Constitution of the United States.116th Congress (2019-2020) |
|Sponsor:||Sen. Tester, Jon [D-MT] (Introduced 04/04/2019)|
|Committees:||Senate - Judiciary|
|Latest Action:||Senate - 04/04/2019 Read twice and referred to the Committee on the Judiciary. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.J.Res.18 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (04/04/2019)
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 amendment requires the President to annually submit to Congress a budget in which total outlays do not exceed total receipts.
The amendment specifies exceptions to the requirements if a declaration of war is in effect, the United States is engaged in military conflict that causes an imminent and serious military threat to national security, economic growth is less than 0%, or the unemployment rate is more than 7%.
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.