[Congressional Record Volume 141, Number 8 (Friday, January 13, 1995)]
[Senate]
[Page S919]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                               AMENDMENTS

  Under clause 6 of rule XXIII, proposed amendments were submitted as 
follows:

                             To H.J. Res. 1

                              By Mr. Wise

       Amendment No. 1: Strike all after the resolving clause and 
     insert the following:

     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 outlays of the operating funds of the 
     United States for any fiscal year shall not exceed total 
     receipts to those funds for that fiscal year plus any 
     operating fund balances carried over from previous fiscal 
     years.
       ``Section 2. The Congress may waive the provisions of this 
     article for any fiscal year in which a declaration of war is 
     in effect. 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 of the Congress, that becomes law. If real 
     economic growth has been or will be
      negative for two consecutive quarters, Congress may by law 
     waive the article for the current and the next fiscal 
     year.
       ``Section 3. Not later than the first Monday in February in 
     each calendar 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 outlays of the operating funds of the United States for 
     that fiscal year shall not exceed total receipts to those 
     funds for that fiscal year.
       ``Section 4. Total receipts of the operating funds shall 
     exclude those derived from net borrowing. Total outlays of 
     the operating funds of the United States shall exclude those 
     for repayment of debt principal and for capital investments 
     in physical infrastructure that provide long-term economic 
     returns but shall include an annual debt servicing charge. 
     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 5. This article shall be implemented and enforced 
     only in accordance with appropriate legislation enacted by 
     Congress, which may rely on estimates of outlays and 
     receipts.
       ``Section 6. This section and section 5 of this article 
     shall take effect upon ratification. All other sections of 
     this article shall take effect beginning with fiscal year 
     2002 or the second fiscal year beginning after its 
     ratification, whichever is later.''.
Vol. 141          WASHINGTON, FRIDAY, JANUARY 13, 1995            No. 8
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                                 Senate


             (Legislative day of Tuesday, January 10, 1995)