Legislature(1995 - 1996)

04/12/1996 01:30 PM JUD

Audio Topic
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
txt
        SJR 13 RATIFYING FED BALANCED-BUDGET AMENDMENT                       
                                                                               
 JERRY BURNETT, staff to Senator Randy Phillips, explained SJR 13              
 ratifies a balanced budget amendment, as proposed in HJR 1, which             
 passed the U.S. House of Representatives on January 26, 1995.  The            
 proposed amendment would require the U.S. President and Congress to           
 adopt a budget for each fiscal year in which total outlays do not             
 exceed total receipts.  SJR 13 also requires a supermajority vote             
 consisting of three-fifths of each house of Congress to adopt a               
 budget in which outlays exceed receipts, or to increase the limit             
 on debt.  An exception to the balanced budget requirement is                  
 allowed in times of war or declared military emergency.  The                  
 current national debt is in excess of $5 trillion, which represents           
 about $20,000 per person in the U.S.                                          
                                                                               
 SENATOR GREEN moved SJR 13 out of committee with individual                   
 recommendations.  There being no objection, the motion carried.               

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