joint resolution Progress
- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on the JudiciaryIntroducedJanuary 3rd, 2013
- house Committees
Bill DetailsOfficial information provided by the Congressional Research Service. Learn more or make a suggestion.
The Congressional Research Service writes summaries for most legislation. These summaries are listed here. Countable will update some legislation with a revised summary, title or other key elements.
Proposing an amendment to the Constitution of the United States requiring that the Federal budget be balanced and that an increase in the Federal debt requires approval from a majority of the legislatures of the several States.
Constitutional Amendment - Prohibits total outlays for a fiscal year (except those for repayment of debt principal) from exceeding total receipts for that fiscal year (except those derived from borrowing). Prohibits total outlays from exceeding 18% of the gross domestic product (GDP) for the calendar year ending before the beginning of such fiscal year. Authorizes Congress to provide for suspension of the imposed limitations for any fiscal year for which two-thirds of each chamber shall provide, by a roll call vote, for a specific excess of outlays over receipts or over 18% of such GDP for such calendar year. Prohibits any bill to levy a new tax or increase the rate of any tax from becoming law unless approved by a two-thirds roll call vote of each chamber. Requires a two-thirds roll call vote of each chamber to increase the public debt limit. Grants Members of Congress standing and a cause of action to seek judicial enforcement of this article when authorized to do so by a petition signed by one-third of the Members of either chamber. Prohibits a federal or state court from ordering any increase in revenue to enforce this article. Requires approval from a majority of the legislatures of the several states to increase the federal debt.