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 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 senate (Jan 29, 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, excluding revenue received from the issuance of bonds, notes, or other obligations of the United States; and (2) 20% of the gross domestic product (GDP) for the preceding calendar year. Authorizes suspension of these prohibitions by concurrent resolution approved by a three-fifths vote of each chamber.
What just happenedJan 29, 2013
Read twice and referred to the Committee on the Judiciary.
Who’s behind it
- Introduced in SenateJan 29, 2013
- Jan 29, 2013IntroReferral
Read twice and referred to the Committee on the Judiciary.
- Jan 29, 2013IntroReferral10000
Introduced in Senate