Skip to main content
HJRES 49 104th Congress House Economics and Public Finance Balanced budgets Budget deficits Capital investments Congress Constitutional amendments Deficit financing Economic growth Federal budgets Federal receipts and expenditures Finance and Financial Sector Government trust funds Infrastructure Infrastructure (Economics) Law Legislation Off-budget expenditures Old age, survivors and disability insurance Public debt Social Welfare

Proposing an amendment to the Constitution to provide for a balanced budget for the United States Government.

Introduced: January 9, 1995 See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 24, 1995
For Further Action See H.J.Res.1.
Jan 23, 1995
Sponsor introductory remarks on measure. (CR H479)
Jan 9, 1995
Referred to the House Committee on the Judiciary.
Jan 9, 1995
Introduced in House
 Plain-English summary Congressional Research Service

Constitutional Amendment - Prohibits Federal outlays of operating funds from exceeding receipts to such funds for any fiscal year plus any operating fund balances carried over from previous fiscal years.

Waives such prohibition: (1) when a declaration of war is in effect; (2) when the United States by law is engaged in military conflict; or (3) if economic growth has been or will be negative for two consecutive quarters.

Requires the President to propose a budget in accordance with this Act.

Declares that total receipts exclude those derived from net borrowing. Declares that total outlays excludes those for repayment of debt principal and for capital investments in physical infrastructure that provide long-term economic returns but includes an annual debt servicing charge. Provides that the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund shall not be counted as receipts or outlays.

What's happening now January 24, 1995

For Further Action See H.J.Res.1.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2