S.J.Res.5 - A joint resolution proposing an amendment to the Constitution of the United States requiring that the Federal budget be balanced.116th Congress (2019-2020) |
|Sponsor:||Sen. Lee, Mike [R-UT] (Introduced 01/24/2019)|
|Committees:||Senate - Judiciary|
|Latest Action:||Senate - 01/24/2019 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.5 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (01/24/2019)
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.