[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.J. Res. 62 Introduced in House (IH)]

103d CONGRESS
  1st Session
H. J. RES. 62

   Proposing an amendment to the Constitution relating to a Federal 
                            balanced budget.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 6, 1993

   Mr. Poshard introduced the following joint resolution; which was 
               referred to the Committee on the Judiciary

_______________________________________________________________________

                            JOINT RESOLUTION


 
   Proposing an amendment to the Constitution relating to a Federal 
                            balanced budget.

    Resolved by the Senate and House of Representatives of the United 
States of America in Congress assembled (two-thirds of each House 
concurring therein), That the following article is proposed as an 
amendment to the Constitution of the United States, which shall be 
valid to all intents and purposes as part of the Constitution if 
ratified by the legislatures of three-fourths of the several States 
within seven years after its submission to the States for ratification:

                              ``Article--

    ``Section 1. Total outlays of the United States for any fiscal year 
shall not exceed total receipts of the United States for that year, 
unless three-fifths of the whole number of both Houses of Congress 
shall provide for a specific excess of outlays over receipts.
    ``Section 2. Prior to each fiscal year, the President shall 
transmit to the Congress a proposed budget for the United States 
Government for that fiscal year in which total outlays do not exceed 
total receipts.
    ``Section 3. The Congress may waive the provisions of this article 
for any fiscal year in which a declaration of war is in effect.
    ``Section 4. Total receipts shall include all receipts of the 
United States except those derived from borrowing or retirement trust 
funds. Total outlays shall include all outlays of the United States 
except for those for retirement trust funds or repayment of debt 
principal.
    ``Section 5. This article shall take effect beginning with fiscal 
year 1995 or with the second fiscal year beginning after its 
ratification, whichever is later.''.

                                 <all>