[Congressional Record Volume 143, Number 1 (Tuesday, January 7, 1997)]
[Extensions of Remarks]
[Page E56]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                BALANCED BUDGET REQUIREMENT ACT OF 1997

                                 ______
                                 

                          HON. GARY A. CONDIT

                             of california

                    in the house of representatives

                        Tuesday, January 7, 1997

  Mr. CONDIT. Mr. Speaker, today, along with our colleague 
Representative Kay Granger of Texas, I have introduced the Balanced 
Budget Requirement Act, legislation to require the President to submit 
to the Congress each year a balanced Federal budget and to forbid the 
consideration in the Congress of any budget resolution that does not 
provide for a balanced budget. These changes would take effect 
immediately, and are essential in implementing any Constitutional 
amendment to balance the Federal budget.
  Specifically, the legislation provides that:
  Beginning in fiscal year 1998, the President is required to submit a 
plan for achieving a balanced budget by 2002. Thereafter, the President 
must submit budgets to maintain a balanced budget for the current 
fiscal year and the 4 fiscal years following, unless there is a 
declared war or national security or economic emergency.
  Upon submission of the President's budget, the Director of the 
Congressional Budget Office (CBO) determines whether the plan achieves 
a balanced budget and certifies to the Chairman of the House and Senate 
Committees on the Budget such. If the budget is certified as not being 
in balance, the Chairmen of the Budget Committees notify the President 
in writing within 7 calendar days. Within 15 days, the President may 
submit a revised plan to achieve a balanced budget.
  It is not in order in the House or Senate to consider any concurrent 
resolution on the budget that does not achieve a balanced budget by 
fiscal year 2002. In 2002 and thereafter, it is not in order to 
consider any budget resolution that does not maintain a balanced 
budget. This section cannot be waived unless a joint resolution is 
enacted that declares war, a national security or national economic 
emergency.
  Finally, the bill makes in order in both the House and Senate the 
consideration of the President's budget or revision as a substantive 
amendment to the budget resolution, without substantive amendment.
  While essential, enactment of a balanced budget in the Congress and 
ratification of a balanced budget constitutional amendment is only the 
beginning, not the end. The Balanced Budget Requirement Act, together 
with diligence on our part, will keep the Federal budget balanced.

                          ____________________