Congress 108 - SJRES 2 - A joint resolution proposing an amendment to the Constitution of the United States to require a balanced budget and protect Social Security surpluses.

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Balanced budgets Budget deficits Congress Congressional voting Constitutional amendments Debt limit Economics and Public Finance Federal budgets Government Operations and Politics Government trust funds Income tax Law Legislation Record votes Social Welfare Tax rates Taxation

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Summary

Constitutional Amendment - Prohibits outlays for a fiscal year (except those for repayment of debt principal) from exceeding total receipts for that fiscal year (except those derived from borrowing) unless Congress, by a three-fifths rollcall vote of each House, authorizes a specific excess of outlays over receipts.

Provides that any surplus of receipts over outlays of the Social Security trust funds shall not be counted, and any deficit of receipts relative to outlays of the Social Security trust funds shall be counted, and must be completely offset by a surplus of all other receipts over all other outlays.

Requires a three-fifths rollcall vote of each House to increase the public debt limit.

Directs the President to submit a balanced budget to Congress annually.

Prohibits any bill to increase revenue from becoming law unless approved by a majority of each House by rollcall vote.

Authorizes waivers of these provisions when a declaration of war is in effect or under other specified circumstances involving military conflict.

Actions

Jan 7, 2003

Read twice and referred to the Committee on the Judiciary.
Jan 7, 2003

Sponsor introductory remarks on measure. (CR S85)
Jan 7, 2003

Introduced in Senate

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