[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S.J. Res. 5 Introduced in Senate (IS)]

103d CONGRESS
  1st Session
S. J. RES. 5

  Proposing a constitutional amendment to require a Federal balanced 
                                budget.


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                   IN THE SENATE OF THE UNITED STATES

             January 21 (legislative day, January 5), 1993

 Mr. Specter introduced the following joint resolution; which was read 
          twice and referred to the Committee on the Judiciary

_______________________________________________________________________

                            JOINT RESOLUTION


 
  Proposing a constitutional amendment to require 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 and 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 for ratification:

                              ``Article--

    ``Section 1. Total outlays of the United States for any fiscal year 
shall not exceed total receipts to the United States for that fiscal 
year, unless three-fifths of the whole number of both Houses of 
Congress by rollcall vote shall provide for a specific excess of 
outlays over receipts.
    ``Section 2. Prior to each fiscal year, the President shall 
transmit to both Houses of Congress a proposed budget for the United 
States Government for that fiscal year in which total outlays do not 
exceed total receipts.
    ``Section 3. Total receipts shall include all receipts of the 
United States except those derived from borrowing. Total outlays shall 
include all outlays of the United States except for those for repayment 
of debt principal.
    ``Section 4. Upon request of the President, the Congress may waive 
the provisions of this article for any fiscal year in which a 
declaration of war is in effect.
    ``Section 5. The Congress shall have authority to enforce the 
provisions of this article by appropriate legislation.
    ``Section 6. This article shall take effect with the third fiscal 
year beginning after its ratification.''.

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