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Fiscal policy procedures

1. The House of Representatives shall adopt an omnibus budget bill on or before the beginning of each fiscal year.

2. Should the House fail to adopt said omnibus budget bill by the start of the fiscal year, no compensation shall be paid to any member of the House of Representatives or their staff until such time as a budget bill has been passed and approved by the President.

3. The omnibus budget bill will include appropriations and authorizations for all expenditures of funds and issuance of new indebtedness for the fiscal year. It will also incorporate any changes to statutes relevant to taxation or other revenues.

4. The omnibus budget bill will include a forward projection of revenues and expenditures for at least ten years. For any omnibus budget bill passed by the House, the projected expenditures over this ten year period must not exceed the projected revenues over the ten year period.

5. No tax statute or appropriation of expenditure shall be designated for the benefit of any particular individual or organization or institution, or a group of individuals or organizations or institutions. All such provisions must be worded in a general manner that does not precude the possibility said provisions apply to any person under the jurisdiction of the United States.

(This bundle of provisions would go a long way to fixing what ails us. The first would require that the House actually adopt a budget each year. I am assuming that my other proposed amendment would be adopted, which places exclusive jurisdiction for fiscal policy matters with the House.

The second article hits them in the pocketbook where it hurts if they fail to pass a budget in time. Right not, delay and negligence have no consequences. Under these provisions, there would be.

The third links the debt limit authorization with the budget, thus eliminating the insane political games that they have been playing over and over. If they pass a budget that is in deficit, then they also pass a budget that authorizes the debt to cover the gap. There is also a combination of the budget with appropriation bills, rather than having the latter done separately. This assures that they do not actually appropriate more than the budget calls for. Finally, it also requires that any changes to the tax code anticipated in the budget also be included at the time the budget is adopted to assure that those happen as well. Everything holds together as a package and as adopted as a package.

Ar

stefan_stackhouse, 18.06.2012, 15:51
Idea status: under consideration

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