Proposing a balanced budget amendment to the Constitution of the United States.
Latest action · Feb 16, 2012 Referred to the Subcommittee on the Constitution.
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 14, 2012
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Constitutional Amendment - Prohibits total outlays (except those for payment of debt) for a year from exceeding the average annual revenue (except that derived from borrowing) collected in the three prior years, adjusted in proportion to changes in population and inflation.
Requires a two-thirds roll call vote of each chamber to declare an emergency and provide by law for specific outlays in excess of such limit.
Requires the declaration to specify reasons for the emergency designation and to limit the period in which outlays may exceed such limit to no longer than one year.
Requires all revenue in excess of outlays: (1) to reduce the federal debt; and (2) upon the retirement of such debt, to be held by the Treasury to be used for the specific outlays in excess of such limit.
Prescribes a formula for reducing outlays over seven years.
Cosponsors 7
Members who signed on, in the order they did. All signed on Feb 16, 2012.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-FL | Bill Posey | Feb 16, 2012 | |
| R-WY | Cynthia M. Lummis | Feb 16, 2012 | |
| R-TN | David P. Roe | Feb 16, 2012 | |
| R-CO | Doug Lamborn | Feb 16, 2012 | |
| R-OH | Jean Schmidt | Feb 16, 2012 | |
| R-SC | Mick Mulvaney | Feb 16, 2012 | |
| R-AZ | Trent Franks | Feb 16, 2012 |
Actions 3
Everything that happened, newest first.
- Feb 16, 2012Referred to the Subcommittee on the Constitution.
- Feb 14, 2012Introduced in House
- Feb 14, 2012Referred to the House Committee on the Judiciary.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HJRES 73 | Proposing a spending limit amendment to the Constitution of the United States. | Related bill | Aug 25, 2011 |
| HJRES 81 | Proposing a balanced budget amendment to the Constitution of the United States. | Related bill | Oct 24, 2011 |
Subjects
Assigned by the Library of Congress. Policy area: Economics and Public Finance.
Text 1
Each version as it was printed, newest first.
- Feb 14, 2012Introduced in House
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.