3 1 outlays, the surplus shall be used to reduce the public debt of 2 the United States until such debt is eliminated. 3 "SEC. 3. Following declaration of an emergency by the 4 President, the Congress may authorize, by a two-thirds vote 5 of both Houses of Congress, a specified amount of emergency 6 outlays in excess of the limit prescribed by section 1 for the 7 current fiscal year. 8 "SEC. 4. The limit on total outlays prescribed by section 9 1 may be changed by a specified amount by a three-quarters 10 vote of both Houses of Congress. The change shall become 11 effective for the fiscal year following approval. 12 "SEC. 5. For each of the first six fiscal years beginning 13 after ratification of this article, total grants to State and local 14 governments shall not be a smaller fraction of total outlays 15 than in the last three fiscal years beginning prior to the ratifi16 cation of this article. Thereafter, if such grants for any fiscal 17 year are less than that fraction of total outlays, the limit on 18 total outlays prescribed by section 1 for such fiscal year shall 19 be decreased by an equivalent amount. 20 "SEC. 6. The Congress may not by law require or au21 thorize any agency of the Government of the United States 22 to require, directly or indirectly, that State or local govern23 ments engage in additional or expanded activities without 24 compensation equal to the necessary additional costs. 1 4 “SEC. 7. This article shall apply to the first fiscal year 2 beginning after the date of its ratification and to each suc 3 ceeding fiscal year. 4 "SEC. 8. The Congress shall have power to enforce this 5 article by appropriate legislation.". Proposing an amendment to the Constitution of the United States which requires (except during fiscal years during which the United States is at war or during which suspension is approved) that the annual deficit of the United States be eliminated, which requires tax rates to be reduced to offset the effects of inflation, and which establishes a procedure for the approval of bills or joint resolutions effecting taxes. IN THE SENATE OF THE UNITED STATES MAY 9 (legislative day, APRIL 9), 1979 Mr. ARMSTRONG 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 of the United States which requires (except during fiscal years during which the United States is at war or during which suspension is approved) that the annual deficit of the United States be eliminated, which requires tax rates to be reduced to offset the effects of inflation, and which establishes a procedure for the approval of bills or joint resolutions effecting 1 taxes. 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 2 1 article is proposed as an amendment to the Constitution of 2 the United States, to be valid only if ratified by the legisla3 tures of three-fourths of the several States within seven years 4 of the date of final passage of this joint resolution: 5 6 "ARTICLE — "SECTION 1. The total amount of money expended by 7 the United States in any fiscal year of the Treasury of the 8 United States (or other similar period of time designated by 9 the Congress for purposes of accounts, receipts, expenditures, 10 estimates, and appropriations) shall not exceed the total 11 amount of revenue received by the United States during such 12 fiscal year. 13 "SEC. 2. Section 1 of this article shall not apply during 14 any fiscal year of the Treasury of the United States (or other 15 similar period) during any part of which the United States is 16 at war as declared by the Congress under section 8 of article 17 I of the Constitution. 18 "SEC. 3. Section 1 of this article may be suspended by a 19 joint resolution approved by a vote of three-fifths of the Mem20 bers of each House of the Congress and approved and signed 21 by the President of the United States or, if not approved and 22 signed by the President, approved by a vote of two-thirds of 23 the Members of each House of the Congress. Any suspension 24 of section 1 of this article under this section shall be effective 25 only during the fiscal year of the Treasury of the United 3 1 States (or other similar period) during which such suspension 2 is approved. 3 "SEC. 4. The Congress shall for each fiscal year of the 4 Treasury of the United States (or other similar period) reduce 5 the rates of taxes, duties, imposts, and excises it lays and 6 collects to offset the effects of inflation during such fiscal 7 year. 8 "SEC. 5. Every bill or joint resolution having the effect 9 of increasing any taxes, duties, imposts, or excises during the 10 fiscal year of the Treasury of the United States (or other 11 similar period) during which the bill or joint resolution is ap12 proved shall become law only after it is approved by a vote of 13 three-fifths of each House of the Congress and approved and 14 signed by the President of the United States or, if not ap15 proved and signed by the President, approved by a vote of 16 two-thirds of each House of the Congress. 17 "SEC. 6. Every bill or joint resolution having the effect 18 of reducing any taxes, duties, imposts, or excises during the 19 fiscal year of the Treasury of the United States (or other 20 similar period) during which the bill or joint resolution is ap21 proved shall become law, notwithstanding section 1 of this 22 article, after it is approved by a vote of a majority of each 23 House of the Congress and approved and signed by the 24 President of the United States or, if not approved and signed |