[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S.J. Res. 8 Introduced in Senate (IS)]

103d CONGRESS
  1st Session
S. J. RES. 8

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


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

             January 21 (legislative day, January 5), 1993

 Mr. Thurmond (for himself, Mr. DeConcini, and Mr. Simpson) introduced 
 the following joint resolution; which was read twice and 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 to 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. Any bill for raising taxes shall become law only if 
approved by a majority of the whole number of both Houses of Congress 
by rollcall vote.
    ``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. Total outlays shall 
include all outlays of the United States except for those for repayment 
of debt principal.
    ``Section 5. This article shall take effect beginning with fiscal 
year 1998 or with the second fiscal year beginning after the 
ratification, whichever is later.''.

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