113/sjres/1

. Upon introduction to the Senate, the joint resolution was read twice and referred to the.

Summary
This joint resolution if passed, would propose a Constitutional Amendment that would prohibit total 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).

Prohibits total outlays from exceeding 18% of the gross domestic product (GDP) for the calendar year ending before the beginning of such fiscal year.

Authorizes Congress to provide for suspension of the imposed limitations for any fiscal year for which two-thirds of each chamber shall provide, by a roll call vote, for a specific excess of outlays over receipts or over 18% of such GDP for such calendar year.

Prohibits any bill to levy a new tax or increase the rate of any tax from becoming law unless approved by a two-thirds roll call vote of each chamber.

Requires a two-thirds roll call vote of each chamber to increase the public debt limit.

Grants Members of Congress standing and a cause of action to seek judicial enforcement of this article when authorized to do so by a petition signed by one-third of the Members of either chamber. Prohibits a federal or state court from ordering any increase in revenue to enforce this article.

Sponsor and Cosponsors
There no cosponsors of the resolution.