S. J. RES. 3
IN THE SENATE OF THE UNITED STATES
January 26, 2011
Mr. Hatch (for himself, Mr. Cornyn, Mr. Crapo, Mr. Inhofe, Mr. McCain, Mr. Grassley, Mr. Roberts, Mr. Lugar, Mr. Burr, Ms. Snowe, Mr. Ensign, Mr. Isakson, Mr. Barrasso, Mr. Johanns, Mr. Chambliss, Ms. Ayotte, Mr. Portman, Mr. Blunt, Mr. Hoeven, and Mr. Kirk) introduced the following joint resolution; which was read twice and referred to the Committee on the Judiciary
Proposing an amendment to the Constitution of the United States relative to balancing the budget.
That the following article is proposed as an amendment to the Constitution of the United States, which shall be valid to all intents and purposes as part of the Constitution when ratified by the legislatures of three-fourths of the several States:
Total outlays for any fiscal year shall not exceed total receipts for that fiscal year, unless two-thirds of the duly chosen and sworn Members of each House of Congress shall provide by law for a specific excess of outlays over receipts by a rollcall vote.
Total outlays for any fiscal year may not exceed 20 percent of the gross domestic product of the United States for the calendar year ending before the beginning of such fiscal year, unless two-thirds of the duly chosen and sworn Members of each House of Congress shall provide by law for a specific amount in excess of such 20 percent by a rollcall vote.
Prior to each fiscal year, the President shall transmit to the Congress a proposed budget for the United States Government for that fiscal year in which total outlays do not exceed total receipts.
No bill to increase Federal taxes shall become law unless approved by two-thirds of the duly chosen and sworn Members of each House of Congress by a rollcall vote.
The Congress may waive the provisions of this article for any fiscal year in which a declaration of war is in effect. The provisions of this article may be waived for any fiscal year in which the United States is engaged in military conflict which causes an imminent and serious military threat to national security and is so declared by a joint resolution, adopted by a majority of the duly chosen and sworn Members of each House of Congress, which becomes law.
The Congress shall enforce and implement this article by appropriate legislation, which may rely on estimates of outlays, receipts, and gross domestic product.
Total receipts shall include all receipts of the United States Government except those derived from borrowing. Total outlays shall include all outlays of the United States Government except for those for repayment of debt principal.
This article shall take effect beginning with the fourth fiscal year beginning after its ratification.