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H.J.RES.5: Proposing an amendment to the Constitution of the United States relative to balancing the budget.
About this Bill
|This bill was introduced in the||113th Congress|
|This bill is primarily about||economics and public finance|
|You can||read the bill|
|Sponsor||Vern Buchanan, R-Fla.|
|Total Cosponsors||2 (All Republicans)|
|Introduced||Jan. 3, 2013|
|Latest Major Action||Jan. 25, 2013|
|See it on||GovTrack|
|See it on||C-SPAN|
- Bill introduced in the House
- Bill passed in the House
- Bill passed in the Senate
- Bill signed into law
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 two-thirds roll call vote of each chamber, authorizes a specific excess of outlays over receipts.
Prohibits total outlays for any fiscal year from exceeding 18% of the gross domestic product (GDP) for the preceding calendar year unless Congress, by a two-thirds roll call vote of each chamber, authorizes a specific excess over such 18%.
Directs the President to submit a balanced budget to Congress annually.
Prohibits any bill from becoming law that imposes a new tax or increases the statutory rate of any tax or the aggregate amount of revenue, unless approved by a two-thirds roll call vote of each chamber.
Requires a three-fifths roll call vote of each chamber to increase the federal debt limit.
Authorizes waivers of these requirements: (1) ...
(Source: Congressional Research Service)
|Jan. 25, 2013||Referred to the Subcommittee on the Constitution And Civil Justice.|
|Jan. 3, 2013||Referred to the House Committee on the Judiciary.|