A joint resolution proposing an amendment to the Constitution of the United States to provide that expenditures for a fiscal year shall neither exceed revenues for such fiscal year nor 19 per centum of the Nation's gross national product for the last calendar year ending before the beginning of such fiscal year.
Read twice and referred to the Committee on Judiciary.
Congressional Research Service
Official summary
Version 00 · Introduced in Senate · Jan 4, 1995
Constitutional Amendment - Prohibits, in any fiscal year, total Federal outlays from exceeding total receipts and Federal outlays from exceeding 19 percent of the Nation's gross national product. Allows such prohibitions to be suspended by a three-fifths roll call vote of each House of Congress.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 10, 2026. Consult Congress.gov for the current record.
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