A joint resolution proposing an amendment to the Constitution of the United States which requires (except during time of war and subject to suspension by the Congress) that the total amount of money expended by the United States during any fiscal year not exceed the amount of certain revenue received by the United States during such fiscal year and not exceed 20 per centum of the gross national product of the United States during the previous calendar year.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Mar 11, 2004)
Constitutional Amendment - Prohibits, except in time of war, Federal fiscal year expenditures from exceeding: (1) Federal revenues for that fiscal year, except revenue received from the issuance of bonds, notes, or other obligations of the United States; and (2) 20 percent of the gross national product for the preceding calendar year. Authorizes suspension of these prohibitions by concurrent resolution approved by a three-fifths vote of each House of Congress.
What just happenedMar 11, 2004
Referred to the Committee on the Judiciary. (text of measure as introduced: CR 3/12/2004 S2728)
Who’s behind it
- Mar 11, 2004IntroReferral
Referred to the Committee on the Judiciary. (text of measure as introduced: CR 3/12/2004 S2728)
Judiciary Committee - Mar 11, 2004IntroReferralB00100
Sponsor introductory remarks on measure. (CR 3/12/2004 S2727-2728)
- Mar 11, 2004IntroReferral10000
Introduced in Senate