Constitutional Amendment - Directs the Congress to assure that the total outlays of the Federal Government in any fiscal year do not…
Official title: A joint resolution to amend the Constitution of the United States to provide for balanced budgets and a limitation upon the outlays of the Government.
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Constitutional Amendment - Directs the Congress to assure that the total outlays of the Federal Government in any fiscal year do not exceed: (1) its receipts for such year; and (2) 20 percent of the gross national product for the preceeding calendar year. Authorizes the Congress to waive such restrictions in the case of a national emergency.
Filed in the Senate
This senate joint resolution has been filed and is working its way through Congress. It will need to pass both the Senate and the House, then be signed by the President to become law.
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