118th Congress Economics and Public Finance
S. 4268: Proposing a balanced budget amendment to the Constitution of the United States
A bill proposing a balanced budget amendment to the Constitution of the United States.
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill proposes a constitutional amendment prohibiting total outlays for a fiscal year from exceeding total receipts for that fiscal year unless Congress authorizes the excess by a three-fifths roll call vote of each chamber.
The prohibition excludes
- outlays for repayment of debt principal,
- receipts derived from borrowing,
- receipts or outlays of the Social Security and Medicare trust funds, and
- outlays relating to a natural disaster if the act providing the funds explicitly exempts the funds from the requirement and is agreed to by a majority of each chamber of Congress.
Read the full summary
The amendment requires the President to annually submit to Congress a budget in which total outlays do not exceed total receipts.
The amendment specifies exceptions to the requirements if a declaration of war is in effect, the United States is engaged in military conflict that causes an imminent and serious military threat to national security, economic growth is less than 0%, or the unemployment rate is more than 7%.
The amendment prohibits a court from enforcing the requirements by ordering reductions to Social Security or Medicare payments unless the funds available to the trust fund for a program are not sufficient to cover the outlays that would occur during the year if the fund were fully solvent.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Who scored on this bill
No member has earned points from it yet.
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Introductions and cosponsorships count toward weekly caps and show no points.
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History
- Introduced in the Senate by Jon Tester.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on the Judiciary.