GovTrack’s Bill Summary
We don’t have a summary available yet.
Library of Congress Summary
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
Constitutional Amendment - Prohibits estimated outlays of the operating funds of the United States for any fiscal year from exceeding total estimated receipts to those funds for that fiscal year unless Congress, by a three-fifths roll-call vote of each chamber, approves a specific excess of outlays over receipts.
Directs the President to submit a balanced budget to Congress annually.
Prohibits any bill to increase revenue from becoming law unless approved by a majority of each chamber by roll-call vote.
Authorizes waivers of these provisions for any fiscal year and the first fiscal year thereafter if:
(1) a declaration of war is in effect, or
(2) the Congressional Budget Office (CBO) estimates that real economic growth has been or will be less than 1% for two consecutive quarters during the period of those two fiscal years.
Authorizes waivers for any fiscal year under other specified circumstances involving military conflict or if a presidential declaration of major disaster is in effect.
(1) from estimated receipts, specified funds derived from net borrowing;
(2) from estimated outlays, funds for repayment of debt principal and for capital investments; and
(3) from receipts or outlays, receipts (including attributable interest) and outlays of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund.
House Republican Conference Summary
The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.
No summary available.
House Democratic Caucus Summary
The House Democratic Caucus does not provide summaries of bills.
So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.
We’ll be looking for a source of summaries from the other side in the meanwhile.