legislation: 112-hjres-73

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
112-hjres-73 112 hjres 73 Proposing a spending limit amendment to the Constitution of the United States. Economics and Public Finance 2011-07-21 2011-08-25 Referred to the Subcommittee on the Constitution. House Rep. Amash, Justin [R-MI-3] MI R A000367 43 Constitutional Amendment - Prohibits total outlays (except those for payment of debt) for a year from exceeding the average annual revenue (except that derived from borrowing) collected in the three prior years, adjusted in proportion to changes in population and inflation. Requires a three-fourths roll call vote of each chamber to declare an emergency and provide by law for specific outlays in excess of such limit. Requires the declaration to specify reasons for the emergency designation and to limit the period in which outlays may exceed such limit to no longer than one year. Requires all revenue in excess of outlays: (1) to reduce the federal debt; and (2) upon the retirement of such debt, to be held by the Treasury to be used for the specific outlays in excess of such limit. Prescribes a formula for reducing outlays over ten years. 2023-01-11T13:22:49Z  

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