Section 1 Short title
This Act may be cited as the “Balanced Budget and Accounting Act”.
Balanced Budget and Accounting Act
A BILL
To amend title 31, United States Code, to require the President to submit a balanced budget to Congress, and for other purposes.
Sec. 2 Requiring Presidents annual budget to be balanced budget
Section 1105(a) of title 31, United States Code, is amended in the matter preceding paragraph (1) by inserting after the first sentence the following: “Each budget shall be a balanced budget, and under each budget total outlays may not exceed total receipts during the applicable fiscal year.”.