Proposing an amendment to the Constitution of the United States to provide for balanced budgets for the Government.
Sponsored By: Representative Fitzpatrick
Introduced
Summary
Balanced-budget constraint: This proposed constitutional amendment would require federal outlays in each fiscal year to not exceed receipts. It would also force the President to submit a budget that meets that balance and set defined, vote-based waivers for war, national emergencies, and natural disasters.
Show full summary
- Congress: Would have to write laws to enforce the amendment and could permit an excess of outlays over receipts only if two-thirds of each House approve by rollcall. Waivers for war, national emergency, or natural disaster follow separate voting rules with lower thresholds.
- President: Would be required each year to transmit a proposed budget in which total outlays do not exceed total receipts.
- Federal budgeting and timing: The amendment would let enforcement rely on official estimates of outlays and receipts and would take effect beginning with the fifth fiscal year after ratification as part of the Constitution.
Bill Overview
Analyzed Economic Effects
3 provisions identified: 1 benefits, 0 costs, 2 mixed.
Crisis waivers for war and disasters
If enacted, Congress could waive the balanced-budget rule during a war, a national emergency, or a natural disaster. For a war, a rollcall vote could approve the waiver. For an emergency or disaster, a majority-passed joint resolution that becomes law could approve it.
Balanced federal budget with supermajority exception
If enacted, the federal government would have to balance its budget each year. Total outlays could not be higher than total receipts. Congress could pass a law for a specific deficit, but it would take a two-thirds rollcall vote in each House. The President would also need to send Congress a yearly budget that does not spend more than it collects.
Start date and enforcement by Congress
If enacted, the amendment would start beginning with the fifth fiscal year after ratification by the states. Congress would have to pass laws to enforce and carry it out. Those laws could rely on estimates of money coming in and going out.
Sponsors & CoSponsors
Sponsor
Fitzpatrick
PA • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
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