A joint resolution proposing an amendment to the Constitution relating to a Federal balanced budget.

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SJ 7 IS
102d CONGRESS
1st Session
S. J. RES. 7
Proposing an amendment to the Constitution relating to a Federal balanced
budget.
IN THE SENATE OF THE UNITED STATES
January 14 (legislative day, JANUARY 3), 1991
Mr. DECONCINI (for himself, Mr. THURMOND, Mr. HATCH, and Mr. GRASSLEY)
introduced the following joint resolution; which was read twice and referred
to the Committee on the Judiciary
JOINT RESOLUTION
Proposing an amendment to the Constitution relating to a Federal balanced
budget.
  Resolved by the Senate and House of Representatives of the United States of
  America in Congress assembled (two-thirds of each House concurring therein),
  That the following article is proposed as an amendment to the Constitution
  of the United States, which shall be valid to all intents and purposes as
  part of the Constitution if ratified by the legislatures of three-fourths
  of the several States within seven years after its submission to the States
  for ratification:
`Article--
  `SECTION 1. Total outlays of the United States for any fiscal year shall
  not exceed total receipts to the United States for that year, unless
  three-fifths of the whole number of both Houses of Congress shall provide
  for a specific excess of outlays over receipts.
  `SECTION 2. Any bill for raising taxes shall become law only if approved by
  a majority of the whole number of both Houses of Congress by rollcall vote.
  `SECTION 3. Prior to each fiscal year, the President shall transmit to
  the Congress a proposed budget for the United States Government for that
  fiscal year in which total outlays do not exceed total receipts.
  `SECTION 4. The Congress may waive the provisions of this article for any
  fiscal year in which a declaration of war is in effect.
  `SECTION 5. Total receipts shall include all receipts of the United States
  except those derived from borrowing. Total outlays shall include all outlays
  of the United States except for those for repayment of debt principal.
  `SECTION 6. This article shall take effect beginning with fiscal year
  1993 or with the second fiscal year beginning after its ratification,
  whichever is later.'
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