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HCR 703 — Balanced Federal Budget
by Reps. Sirois, Gregory, and others (SCR 324 by Senators Ingoglia and Mayfield)
This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.
Prepared by: Judiciary Committee (JU)
The concurrent resolution is an application to the United States Congress calling upon Congress to convene an Article V constitutional amendments convention to propose a balanced budget amendment.
The convention would be limited to proposing an amendment to the Constitution requiring that, except in a national emergency, the total of all federal appropriations for any fiscal year not exceed the total of all estimated federal revenues for that fiscal year, together with any related and appropriate fiscal restraints.
The concurrent resolution provides that it is to be considered as covering the same subject matter as the presently outstanding balanced budget applications to Congress from other named states. It is to be added, or aggregated, to those applications for the purpose of attaining the two-thirds number of states, or 34 applications, needed to call a constitutional convention.
The concurrent resolution states that it may not be added to other application totals on any other subject calling for a constitutional convention in an effort to meet the requisite number of applications needed to call a convention. It is to be a continuing application and supersedes all previous applications on the subject.
Vote: Senate Adopted; House Adopted