[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.J. Res. 87 Introduced in House (IH)]

112th CONGRESS
  1st Session
H. J. RES. 87

Proposing a balanced budget amendment to the Constitution of the United 
                                States.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           November 15, 2011

   Mr. Carney (for himself, Mr. Polis, Mr. Connolly of Virginia, Mr. 
     Perlmutter, and Mr. Schrader) introduced the following joint 
    resolution; which was referred to the Committee on the Judiciary

_______________________________________________________________________

                            JOINT RESOLUTION


 
Proposing a balanced budget amendment to the Constitution of the United 
                                States.

    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 when 
ratified by the legislatures of three-fourths of the several States 
within seven years after the date of its submission for ratification:

                              ``Article--

    ``Section 1. Total estimated outlays of the operating funds of the 
United States for any fiscal year shall not exceed total estimated 
receipts to those funds for that fiscal year, unless Congress approves 
a specific excess of outlays over receipts by three-fifths of the whole 
number of each House by a roll-call vote.
    ``Section 2. Prior to each fiscal year, the President shall 
transmit to the Congress a proposed budget for the United States 
Government for the fiscal year beginning in that calendar year in which 
total estimated outlays of the operating funds of the United States for 
that fiscal year shall not exceed total estimated receipts to those 
funds for that fiscal year.
    ``Section 3. No bill to increase revenue shall become law unless 
approved by a majority of the whole number of each House by a roll-call 
vote.
    ``Section 4. The Congress may waive the provisions of this article 
for any fiscal year and the first fiscal year thereafter if a 
declaration of war is in effect or if the Director of the Congressional 
Budget Office, or any successor, estimates that real economic growth 
has been or will be less than one percent for two consecutive quarters 
during the period of those two fiscal years. The provisions of this 
article may be waived for any fiscal year in which the United States is 
engaged in military conflict which causes an imminent and serious 
military threat to national security and is so declared by a joint 
resolution, adopted by a majority of the whole number of each House, 
which becomes law.
    ``Section 5. Total estimated receipts of the operating funds shall 
exclude those derived from net borrowing. Total estimated outlays of 
the operating funds of the United States shall exclude those for 
repayment of debt principal; and for capital investments. The receipts 
(including attributable interest) and outlays of the Federal Old-Age 
and Survivors Insurance Trust Fund and the Federal Disability Insurance 
Trust Fund shall not be counted as receipts or outlays for purposes of 
this article.
    ``Section 6. The Congress shall enforce and implement this article 
by appropriate legislation, which may rely on estimates of outlays and 
receipts.
    ``Section 7. This article shall take effect beginning with the 
later of the second fiscal year beginning after its ratification or the 
first fiscal year beginning after December 31, 2016.''.
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