Proposing a balanced budget amendment to the Constitution of the United States.
For Further Action See H.J.Res.1.
Congressional Research Service
Official summary
Version 00 · Introduced in House · Jan 4, 1995
Constitutional Amendment - Requires the Congress, prior to each fiscal year, to adopt a statement in which total Federal outlays do not exceed total receipts, unless a two-thirds vote of both Houses authorizes a specific excess. Sets a permanent limit on the amount of Federal public debt, prohibiting any increase unless legislation enacted by a two-thirds majority of both Houses becomes law. Waives these provisions when a declaration of war is in effect. Waives these provisions when the United States is engaged in a military conflict which poses a threat to national security as declared by a joint resolution adopted by a majority of each House.
Source last updated: Nov 21, 2018. Consult Congress.gov for the current record.
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