A joint resolution proposing an amendment to the Constitution of the United States relative to require a balancing of the budget.
Latest action · Feb 15, 2006 Read twice and referred to the Committee on the Judiciary.
Progress
Where this resolution reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedFeb 15, 2006
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Constitutional Amendment - Requires the U.S. budget deficit to be reduced to the following percentages of the amount of the deficit in the year this article is ratified: (1) 80% in the first fiscal year after ratification; (2) 60% in the second fiscal year after ratification; (3) 40% in the third fiscal year after ratification; and (4) 20% in the fourth fiscal year after ratification.
Prohibits U.S. expenditures from exceeding receipts for any fiscal year after the fourth fiscal year after ratification unless authorized by a law approved by three-fifths of each House of Congress.
Authorizes Congress to waive the provisions of this Act for any fiscal year in which a declaration of war is in effect. Requires any deficit that occurs as a result of such war to be reduced within five fiscal years following the war.
Cosponsors
Members who signed on, in the order they did.
Actions 3
Everything that happened, newest first.
- Feb 15, 2006Introduced in Senate
- Feb 15, 2006Read twice and referred to the Committee on the Judiciary.
- Feb 15, 2006Sponsor introductory remarks on measure. (CR S1363-1365)
Subjects
Assigned by the Library of Congress. Policy area: Economics and Public Finance.
Text 1
Each version as it was printed, newest first.
- Feb 15, 2006Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this resolution on Congress.gov and govinfo.gov.