A joint resolution proposing an amendment to the Constitution of the United States requiring that the Federal budget be balanced.

IIA 117TH CONGRESS 1ST SESSION S. J. RES. 5 Proposing an amendment to the Constitution of the United States requiring that the Federal budget be balanced. IN THE SENATE OF THE UNITED STATES JANUARY 22, 2021 Mr. LEE (for himself and Mr. GRASSLEY) introduced the following joint reso- lution; which was read twice and referred to the Committee on the Judici- ary JOINT RESOLUTION Proposing an amendment to the Constitution of the United States requiring that the Federal budget be balanced. Resolved by the Senate and House of Representatives 1 of the United States of America in Congress assembled 2 (two-thirds of each House concurring therein), That the fol- 3 lowing article is proposed as an amendment to the Con- 4 stitution of the United States, which shall be valid to all 5 intents and purposes as part of the Constitution when 6 ratified by the legislatures of three-fourths of the several 7 States: 8 VerDate Sep 11 2014 00:24 Jan 23, 2021 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\SJ5.IS SJ5 kjohnson on DSK79L0C42PROD with BILLS 2 •SJ 5 IS ‘‘ARTICLE — 1 ‘‘SECTION 1. Total outlays for any fiscal year shall 2 not exceed total receipts for that fiscal year. 3 ‘‘SECTION 2. Total outlays shall not exceed 18 per- 4 cent of the gross domestic product of the United States 5 for the calendar year ending prior to the beginning of such 6 fiscal year. 7 ‘‘SECTION 3. The Congress may provide for suspen- 8 sion of the limitations imposed by section 1 or 2 of this 9 article for any fiscal year for which two-thirds of the whole 10 number of each House shall provide, by a rollcall vote, for 11 a specific excess of outlays over receipts or over 18 percent 12 of the gross domestic product of the United States for the 13 calendar year ending prior to the beginning of such fiscal 14 year. 15 ‘‘SECTION 4. Any bill to levy a new tax or increase 16 the rate of any tax shall not become law unless approved 17 by two-thirds of the whole number of each House of Con- 18 gress by a rollcall vote. 19 ‘‘SECTION 5. The limit on the debt of the United 20 States held by the public shall not be increased, unless 21 two-thirds of the whole number of each House of Congress 22 shall provide for such an increase by a rollcall vote. 23 ‘‘SECTION 6. Any Member of Congress shall have 24 standing and a cause of action to seek judicial enforce- 25 VerDate Sep 11 2014 00:24 Jan 23, 2021 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\SJ5.IS SJ5 kjohnson on DSK79L0C42PROD with BILLS 3 •SJ 5 IS ment of this article, when authorized to do so by a petition 1 signed by one-third of the Members of either House of 2 Congress. No court of the United States or of any State 3 shall order any increase in revenue to enforce this article. 4 ‘‘SECTION 7. The Congress shall have the power to 5 enforce this article by appropriate legislation. 6 ‘‘SECTION 8. Total receipts shall include all receipts 7 of the United States except those derived from borrowing. 8 Total outlays shall include all outlays of the United States 9 except those for repayment of debt principal. 10 ‘‘SECTION 9. This article shall become effective begin- 11 ning with the second fiscal year commencing after its rati- 12 fication by the legislatures of three-fourths of the several 13 States.’’. 14 Æ VerDate Sep 11 2014 00:24 Jan 23, 2021 Jkt 019200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\SJ5.IS SJ5 kjohnson on DSK79L0C42PROD with BILLS