Proposing a constitutional amendment to require a balanced budget. IN THE SENATE OF THE UNITED STATES JANUARY 15, 1979 Mr. MCCLURE introduced the following joint resolution; which was read twice and referred to the Committee on the Judiciary 1 JOINT RESOLUTION Proposing a constitutional amendment to require a balanced budget. Resolved by the Senate and House of Representatives of 2 the United States of America in Congress assembled, (two3 thirds of each House concurring therein) that the following 4 article is hereby proposed as an amendment to the Constitu5 tion of the United States, which shall be valid to all intents 6 and purposes as part of the Constitution when ratified by the 7 legislatures of three-fourth of the several States within seven 8 years after its submission to the States for ratification, and II-E 2 1 shall apply with respect to the first fiscal year beginning after 2 the ratification of this article and each succeeding fiscal year: 3 4 "ARTICLE "SECTION 1. Except when Congress shall determine to 5 the contrary for a period not to exceed one year by two6 thirds of the votes of both Houses thereof, the Congress shall 7 assure that the total outlays of the Government during any 8 fiscal year (not including any outlays for the redemption of 9 bonds, notes, or other obligations of the United States) do not 10 exceed the total receipts of the Government during such 11 fiscal year (not including any receipts derived from the issu12 ance of bonds, notes, or other obligations of the United 13 States).". 96TH CONGRESS 1ST SESSION S. J. RES. 11 To amend the Constitution relating to a balanced budget. IN THE SENATE OF THE UNITED STATES JANUARY 15, 1979 Mr. TALMADGE (for himself and Mr. NUNN) introduced the following joint resolution; which was read twice and referred to the Committee on the Judiciary 1 JOINT RESOLUTION To amend the Constitution relating to a balanced budget. Resolved by the Senate and House of Representatives of 2 the United States of America in Congress assembled (two3 thirds of each House concurring therein), That the following 4 article is proposed as an amendment to the Constitution of 5 the United States, which shall be valid to all intents and 6 purposes as part of the Constitution when ratified by the leg 7 islatures of three-fourths of the several States: 9 "SECTION 1. Except as provided in section 2 of this 10 article, the aggregate amount of expenditures made by the 2 1 Government during any fiscal year shall not exceed the net 2 amount of revenue received by the Government during that 3 fiscal year. 6 7 8 9 10 11 12 13 14 "SEC. 2. The provisions of section 1 shall not apply to fiscal year "(1) if at any time during that fiscal year the United States is in a state of war declared by the Congress pursuant to section 8 of article I of this Constitution, or "(2) if, with respect to that fiscal year, the Senate and the House of Representatives agree to a concurrent resolution stating, in substance, that a national economic emergency requires the suspension of the application of section I for that fiscal year. 15 In exercising its power under paragraph (2) of this section, 16 the Senate and House of Representatives shall take into con17 sideration the extent and rate of industrial activity, unem18 ployment, and inflation, and such other factors as they deem 19 appropriate. 20 "SEC. 3. The Congress shall have power to carry this 21 article into effect by appropriate legislation. 22 "SEC. 4. This article shall take effect on the first day of 23 the first fiscal year which begins after the date of its ratifica24 tion. |