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S.J.RES.7: A joint resolution 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||John Cornyn, R-Texas|
|Total Cosponsors||44 (All Republicans)|
|Introduced||Feb. 13, 2013|
|Latest Major Action||Feb. 13, 2013|
|See it on||GovTrack|
|See it on||C-SPAN|
- Bill introduced in the Senate
- Bill passed in the Senate
- Bill passed in the House
- Bill signed into law
Constitutional Amendment - Prohibits total 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...
(Source: Congressional Research Service)
|Feb. 13, 2013||Read twice and referred to the Committee on the Judiciary. (text of measure as introduced: CR S715-716)|