Sec. 301. Requirement that a Balanced Budget Amendment be submitted to States
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/bill/114/s/2182/pcs/section-301·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Secretary of the Treasury shall not exercise the additional borrowing authority in subsequent legislation until the Archivist of the United States transmits to the States a balanced budget amendment to the Constitution that— requires that total outlays not exceed total receipts; contains a spending limitation as a percentage of GDP; and requires that tax increases be approved by a 2/3 vote in both Houses of Congress for their ratification. It shall not be in order in the House of Representatives or the Senate to consider any bill, joint resolution, amendment, or conference report that would cause the Secretary of the Treasury to exercise additional borrowing authority described in subsection
(a)until such time as the Archivist of the United States transmits to the States an amendment to the Constitution described in subsection (a).