96TH CONGRESS 1ST SESSION S. J. RES. 13 To amend the Constitution of the United States. IN THE SENATE OF THE UNITED STATES JANUARY 15, 1979 Mr. HELMS introduced the following joint resolution; which was read twice and referred to the Committee on the Judiciary 1 JOINT RESOLUTION To amend the Constitution of the United States. Resolved by the Senate and the House of Representa2 tives of the United States of America in Congress assembled 3 (two-thirds of each House concurring therein), That the fol4 lowing article is hereby proposed as an amendment to the 5 Constitution of the United States, which shall be valid to all 6 intents and purposes as part of the Constitution when ratified 7 by the legislatures of three-fourths of the several States 8 within seven years after its submission to the States for 9 ratification: 10 11 "ARTICLE — "SECTION 1. Except when Congress shall determine, 12 by three-fourths of the votes of both Houses thereof, that a II-E 2 1 grave national emergency exists, the Congress shall assure 2 that the total outlays of the Government during any fiscal 3 year (not including any outlays for the redemption of bonds, 4 notes, or other obligations of the United States) do not 5 exceed the total receipts of the Government during such 6 fiscal year (not including any receipts derived from the issu7 ance of bonds, notes, or other obligations of the United 8 States).". To amend the Constitution of the United States to provide for balanced budgets and elimination of the Federal indebtedness. IN THE SENATE OF THE UNITED STATES JANUARY 18 (legislative day, JANUARY 15), 1979 Mr. WALLOP (for himself, Mr. MORGAN, and Mr. THURMOND) introduced the following joint resolution; which was read twice and referred to the Committee on the Judiciary JOINT RESOLUTION To amend the Constitution of the United States to provide for balanced budgets and elimination of the Federal indebtedness. 1 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-fourths of the several States within three8 years after its submission to the States for ratification: 1 2 9 2 "ARTICLE "SECTION 1. In exercising its powers under article I of 3 the Constitution, and in particular its powers to lay and col4 lect taxes, duties, imposts, and excises and to enact laws 5 making appropriations, the Congress shall assure that the 6 total outlays of the Government during any fiscal year do not 7 exceed the total receipts of the Government during such 8 fiscal year and that the Federal indebtedness is eliminated. "SEC. 2. During the first fiscal year beginning after the 10 ratification of this article, the total receipts of the Govern11 ment, not including receipts derived from the issuance of 12 bonds, notes, or other obligations of the United States, shall 13 not be less than 95 per centum of the total outlays, not in14 cluding any outlays for the redemption of bonds, notes, or 15 other obligations of the United States. During the second 16 fiscal year, the total receipts shall not be less than 98 per 17 centum of the total outlays. 18 "SEC. 3. During the third fiscal year beginning after the 19 ratification of this article, and for each succeeding year there 20 after, total outlays shall not exceed total receipts. 21 "SEC. 4. In the case of a national emergency, Congress 22 may determine by a concurrent resolution agreed to by a 23 rollcall vote of two-thirds of all the Members of each House 24 of Congress, that total outlays may exceed total receipts: 3 1 Provided, however, That outlays shall never exceed receipts 2 by more than 10 per centum. 3 "SEC. 5. During the fourth fiscal year beginning after 4 the ratification of this article and for the next nineteen suc5 ceeding fiscal years thereafter, the total receipts of the Gov6 ernment shall exceed outlays by an amount equal to 5 per 7 centum of the Federal indebtedness at the beginning of the 8 fourth fiscal year. The President shall, not later than the thir9 tieth day after the close of the fourth fiscal year, ascertain 10 the total Federal indebtedness and transmit said total to the 11 Congress by special message. 12 "SEC. 6. Thereafter, whenever the Congress determines 13 under section 4 that an emergency exists and authorizes out14 lays to exceed receipts, any indebtedness ensuing therefrom 15 shall be extinguished within three fiscal years of being in16 curred. 17 "SEC. 7. The Congress shall have power to enforce this 18 article by appropriate legislation.". |