Proposing an amendment to the Constitution of the United States which requires (except during time of war and subject to suspension by 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 percent of the gross domestic product of the United States during the previous calendar year.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jan 15, 2013)
Constitutional Amendment - Prohibits, except in time of a congressionally declared 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% of the gross domestic product for the preceding calendar year. Authorizes suspension of these prohibitions by concurrent resolution approved by a three-fifths vote of the Senate and a two-thirds vote of the House of Representatives.
Requires the President, before each fiscal year, to transmit to Congress a proposed federal budget for that fiscal year in which total outlays do not exceed total revenues received by the United States.
What just happenedJan 25, 2013
Referred to the Subcommittee on the Constitution And Civil Justice.
Who’s behind it
- Introduced in HouseJan 15, 2013
- Jan 25, 2013Committee
Referred to the Subcommittee on the Constitution And Civil Justice.
- Jan 15, 2013IntroReferralH11100
Referred to the House Committee on the Judiciary.
- Jan 15, 2013IntroReferralIntro-H
Introduced in House
- Jan 15, 2013IntroReferral1000
Introduced in House