HJRES 45 105th Congress House Economics and Public Finance Balanced budgets Budget deficits Capital budgets Capital investments Congress Congressional budget process Constitutional amendments Economic growth Federal budgets Federal receipts and expenditures Finance and Financial Sector Government trust funds Infrastructure Infrastructure (Economics) Law Off-budget expenditures Old age, survivors and disability insurance Public debt Social Welfare

Proposing a balanced budget amendment to the Constitution of the United States.

Introduced: February 5, 1997 See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Mar 5, 1997

Referred to the Subcommittee on the Constitution.

Feb 5, 1997

Referred to the House Committee on the Judiciary.

Feb 5, 1997

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 shall exclude those for repayment of debt principal and for capital investments in physical infrastructure that provide long-term economic returns, but shall include 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.

Requires this article to take effect beginning with the later of FY 2002 or the second fiscal year beginning after its ratification.

What's happening now March 5, 1997

Referred to the Subcommittee on the Constitution.

Committees of jurisdiction 2