Sec. 801. Policy statement on balanced budget amendment
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/bill/114/hconres/27/pcs/section-801·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The House finds the following: The Federal Government collects approximately $3 trillion annually in taxes, but spends more than $3.5 trillion to maintain the operations of government. The Federal Government must borrow 14 cents of every Federal dollar spent. At the end of the year 2014, the national debt of the United States was more than $18.1 trillion. A majority of States have petitioned the Federal Government to hold a Constitutional Convention for the consideration of adopting a Balanced Budget Amendment to the United States Constitution.
Forty-nine States have fiscal limitations in their State Constitutions, including the requirement to annually balance the budget. H.J. Res. 2, sponsored by Rep. Robert W. Goodlatte (R–VA), was considered by the House of Representatives on November 18, 2011, though it received 262 aye votes, it did not receive the two-thirds required for passage. Numerous balanced budget amendment proposals have been introduced on a bipartisan basis in the House. Twelve were introduced in the 113th Congress alone, including H.J.
Res. 4 by Democratic Representative John J. Barrow of Georgia, and H.J. Res. 38 by Republican Representative Jackie Walorski of Indiana. The joint resolution providing for a balanced budget amendment to the United States Constitution referred to in paragraph
(5)prohibited outlays for a fiscal year (except those for repayment of debt principal) from exceeding total receipts for that fiscal year (except those derived from borrowing) unless Congress, by a three-fifths roll call vote of each chamber, authorizes a specific excess of outlays over receipts. In 1995, a balanced budget amendment to the United States Constitution passed the House with bipartisan support, but failed of passage by one vote in the United States Senate. It is the policy of this resolution that Congress should pass a joint resolution incorporating the provisions set forth in subsection (b), and send such joint resolution to the States for their approval, to amend the Constitution of the United States to require an annual balanced budget.