119th Congress Economics and Public Finance
H.J.Res. 110: Proposing a balanced budget amendment to the Constitution of the United States.
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This joint resolution proposes a constitutional amendment that requires federal expenditures and receipts to be balanced, which may occur over more than one year.
Under the amendment, expenditures include all federal expenditures except those for payment of debt. Receipts do not include receipts derived from borrowing.
The amendment requires Congress to achieve balance within 10 years of the ratification of the amendment.
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In an emergency situation, two-thirds of the House of Representatives and the Senate may authorize additional expenditures that are not otherwise permitted by the amendment. The additional expenditures must be for a limited time, and debts incurred from the expenditures must be paid as soon as practicable.
Written by the Congressional Research Service, Library of Congress.
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Other bills by Nathaniel Moran
History
- Introduced in the House by Nathaniel Moran.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on the Judiciary.