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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
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Bill Progress

  • Bill introduced in the House   
  • Bill passed in the House   
  • Bill passed in the Senate   
  • Bill signed into law

Bill 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 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)

Bill Actions

Date Description
Jan. 25, 2013 Referred to the Subcommittee on the Constitution And Civil Justice.
Jan. 3, 2013 Referred to the House Committee on the Judiciary.