[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S.J. Res. 6 Introduced in Senate (IS)]

103d CONGRESS
  1st Session
S. J. RES. 6

       To provide for a Balanced Budget Constitutional Amendment.


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                   IN THE SENATE OF THE UNITED STATES

             January 21 (legislative day, January 5), 1993

  Mr. Gramm (for himself and Mr. Dole) introduced the following joint 
 resolution; which was read twice and referred to the Committee on the 
                               Judiciary

_______________________________________________________________________

                            JOINT RESOLUTION


 
       To provide for a Balanced Budget Constitutional Amendment.

    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. Prior to each fiscal year, Congress shall adopt a 
statement of receipts and outlays for such fiscal year in which total 
outlays are not greater than total receipts. Congress may amend such 
statement provided revised outlays are not greater than revised 
receipts. Congress may provide in such statement for a specific excess 
of outlays over receipts by a vote directed solely to that subject in 
which three-fifths of the whole number of each House agree to such 
excess. Congress and the President shall ensure that actual outlays do 
not exceed the outlays set forth in such statement.
    ``Section 2. Total receipts for any fiscal year set forth in the 
statement adopted pursuant to the first section of this Article shall 
not increase by a rate greater than the rate of increase in national 
income in the second prior fiscal year, unless a three-fifths majority 
of the whole number of each House of Congress shall have passed a bill 
directed solely to approving specific additional receipts and such bill 
has become law.
    ``Section 3. Prior to each fiscal year, the President shall 
transmit to Congress a proposed statement of receipts and outlays for 
such fiscal year consistent with the provisions of this Article.
    ``Section 4. Congress may waive the provisions of this Article for 
any fiscal year in which a declaration of war is in effect.
    ``Section 5. Total receipts shall include all receipts of the 
United States except those derived from borrowing and total outlays 
shall include all outlays of the United States except those for the 
repayment of debt principal.
    ``Section 6. The amount of Federal public debt as of the first day 
of the second fiscal year beginning after the ratification of this 
Article shall become a permanent limit on such debt and there shall be 
no increase in such amount unless three-fifths of the whole number of 
each House of Congress shall have passed a bill approving such increase 
and such bill has become law.
    ``Section 7. Congress shall enforce and implement this Article by 
appropriate legislation.
    ``Section 8. This Article shall take effect for the fiscal year 
1999 or for the second fiscal year beginning after its ratification, 
whichever is later.''.

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