[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S.J. Res. 24 Introduced in Senate (IS)]

112th CONGRESS
  1st Session
S. J. RES. 24

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


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             August 2, 2011

   Mr. Udall of Colorado (for himself, Mr. Baucus, Mr. Manchin, Mrs. 
     McCaskill, Mr. Nelson of Nebraska, and Mr. Nelson of Florida) 
  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 of the United States 
                relative to requiring a 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 when 
ratified by the legislatures of three-fourths of the several States 
within seven years after the date of its submission by the Congress:

                              ``Article--

    ``Section 1. Total outlays for any fiscal year shall not exceed 
total receipts for that fiscal year, unless three-fifths of the whole 
number of each House of Congress shall provide by law for a specific 
excess of outlays over receipts 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 that fiscal year in which total outlays do not exceed 
total receipts.
    ``Section 3. Sections 1 and 2 of this Article shall not apply 
during any fiscal year in which a declaration of war is in effect or 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 4. The Congress shall enforce and implement this article 
by appropriate legislation, which may rely on estimates of outlays and 
receipts.
    ``Section 5. Except as provided in the second clause, total 
receipts shall include all receipts of the United States Government 
other than those derived from borrowing, and total outlays shall 
include all outlays of the United States Government other than those 
for repayment of debt principal.
    ``The receipts (including attributable interest) and outlays of the 
Federal Old-Age and Survivors Insurance Trust Fund and the Federal 
Disability Insurance Trust Fund, or any fund that is a successor to 
either such fund, shall not be considered to be receipts or outlays for 
purposes of this article.
    ``Section 6. Congress shall not pass any bill that provides a net 
reduction in individual income taxes for those with incomes over 
$1,000,000 (as may be adjusted by Congress to account for inflation) 
if, after enactment, total outlays would exceed total receipts in any 
fiscal year affected by the bill.
    ``Section 7. No court of the United States or of any State shall 
enforce this article by ordering any reduction in the Social Security 
benefits authorized by law, including any benefits provided from the 
Federal Old-Age and Survivors Insurance Trust Fund, the Federal 
Disability Insurance Trust Fund, or any fund that is a successor to 
either such fund.
    ``Section 8. This article shall take effect beginning with the 
fifth fiscal year beginning after its ratification.''.
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