Spending Reform Act
113th Congress
1st Session
S. ____
To bring spending within revenues and other matters.
IN THE UNITED STATES SENATE
January 25, 2013
Mr. ROLAND of Texas introduced the following bill; which was referred to the Appropriations Committee.
A BILL
To bring spending within revenues and other matters.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
- This Act may be cited as the 'Spending Reform Act'.
SEC. 2. FINDINGS AND AUTHORITY.
1. The Congress finds that expenditures backed only by debt are unconstitutional.
2. The authority for this act is the United States Constitution, Article I, Section 1 and Article I Section 8 Clauses 1 and 2.
SEC. 3. ENACTMENT.
1. No appropriation or authorization of expenditures shall exceed revenues in the form of taxes, fees, or gifts for the current fiscal year, or borrowing for the next six fiscal years except during a declared state of war.
2. No revenue or loan shall be accepted or payment made in a form that is not convertible to a number of megajoules of energy fixed by statute.
3. Upon enactment every budget item shall be set to zero, but with a rule that this act is then open to amendment of each item, in increments not to exceed the equivalent of one billion dollars in federal reserve notes, each of which shall require a recorded vote, with a minimum of two hours between increments of the same budget item, increasing to one week when the total budget shall exceed 80 percent of projected revenues from taxes.
SEC. 4. REMEDIATION.
Persons injured by the amended act while it was enacted shall be entitled to just compensation therefor, upon adjudication in the United States Court of Claims, or other court of competent jurisdiction.
END.
