Proposing a balanced budget amendment to the Constitution of the United States.
12/13/2023, 8:20 AMSummary of Bill HJRES 12
Bill 118 hjres 12, also known as the Balanced Budget Amendment, is a proposed amendment to the Constitution of the United States. The purpose of this amendment is to require the federal government to operate with a balanced budget, meaning that its spending cannot exceed its revenue.The amendment would mandate that Congress pass a budget each year that does not result in a deficit, unless a three-fifths majority in both the House of Representatives and the Senate vote to allow for a deficit in certain circumstances, such as during times of war or national emergency.
Supporters of the Balanced Budget Amendment argue that it would promote fiscal responsibility and prevent the government from accumulating excessive debt. They believe that forcing the government to live within its means would lead to a more stable economy and protect future generations from the burden of paying off large amounts of debt. Opponents of the amendment, however, argue that it could limit the government's ability to respond to economic downturns or emergencies by restricting its ability to borrow money. They also raise concerns about the potential impact on social programs and government services if spending cuts are necessary to balance the budget. Overall, the Balanced Budget Amendment is a controversial proposal that has sparked debate among lawmakers and the public about the best way to ensure the financial stability of the federal government.
Congressional Summary of HJRES 12
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.
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Current Status of Bill HJRES 12
Bill HJRES 12 is currently in the status of Bill Introduced since January 9, 2023. Bill HJRES 12 was introduced during Congress 118 and was introduced to the House on January 9, 2023. Bill HJRES 12's most recent activity was Referred to the House Committee on the Judiciary. as of January 9, 2023Bipartisan Support of Bill HJRES 12
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
42Democrat Cosponsors
0Republican Cosponsors
42Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HJRES 12
Primary Policy Focus
Economics and Public FinancePotential Impact Areas
Budget deficits and national debtConstitution and constitutional amendmentsEconomic performance and conditionsIncome tax ratesLegislative rules and procedureAlternate Title(s) of Bill HJRES 12
Proposing a balanced budget amendment to the Constitution of the United States.Proposing a balanced budget amendment to the Constitution of the United States.Comments
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Sponsors and Cosponsors of HJRES 12
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