H.J.Res. 5 · 112th Congress
Proposing an amendment to the Constitution of the United States to control spending.
- Stage
- In committee
- Sponsor
- Jeb Hensarling
- Introduced
- 2011-01-05
- Latest action
- 2011-01-24 · Referred to the Subcommittee on the Constitution.
Summary
Constitutional Amendment - Prohibits outlays for a fiscal year (except those for repayment of debt principal) from exceeding one-fifth of economic output of the United States, unless two-thirds of each chamber provide for a specific increase of outlays above this amount.
Authorizes waivers of these provisions when a declaration of war is in effect.