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HJRES 55 118th Congress House Economics and Public Finance Budget deficits and national debt Constitution and constitutional amendments Economic performance and conditions Income tax rates Legislative rules and procedure

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

Introduced: April 18, 2023 Introduced by: Yakym, Rudy Republican · Indiana See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 18, 2023
Referred to the House Committee on the Judiciary.
Apr 18, 2023
Sponsor introductory remarks on measure. (CR H1770)
Apr 18, 2023
Introduced in House
 Plain-English summary Congressional Research Service

This joint resolution proposes a constitutional amendment prohibiting total outlays for a fiscal year from exceeding total receipts for that fiscal year unless Congress authorizes the excess by a three-fifths roll call vote of each chamber. The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing.

The amendment requires a three-fifths roll call vote of each chamber to increase the public debt limit. It prohibits a bill to increase revenue from becoming law unless it has been approved by a majority roll call vote of each chamber.

The amendment also requires the President to submit an annual budget in which total outlays do not exceed total receipts.

Congress may waive these requirements due to a declaration of war or a military conflict that causes an imminent and serious military threat to national security.

What's happening now April 18, 2023

Referred to the House Committee on the Judiciary.

 Committees of jurisdiction 1