H.J.RES.45 - Federal Government - Proposing a balanced budget amendment to the Constitution of the United States.

Constitutional Amendment - Prohibits 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) unless Congress, by a three-fifths rollcall vote of each chamber, authorizes a specific excess of outlays over receipts.

Directs the President to submit a balanced budget to Congress annually.

Authorizes waivers of these provisions when a declaration of war is in effect or under other specified circumstances involving military conflict.

Requires the appropriate congressional committees to report implementing legislation to achieve a balanced budget without reducing the disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund to achieve that goal.

File name		Last Updated
	H.J.RES.45 Introduced in House	08/31/2007