Republican Constitutional amendment will require a balanced budget
Mar 31 2011
WASHINGTON, D.C. – U.S. Senator Jerry Moran (R-Kan.), a member of the Senate Committee on Appropriations, released the following statement regarding the Balanced Budget Amendment to the Constitution unveiled today by Senate Republicans:
“In the coming weeks the United States will reach its $14.29 trillion borrowing limit. This is the eleventh time in the last decade Congress will have to vote on whether to allow our country to take on more debt. Spending beyond our means is no longer an option. The best way to get our spending under control is to pass a budget and stick to it. By forcing Congress to be disciplined and live within a budget, we will turn away from record deficits and back to fiscal responsibility.”
The Balanced Budget Amendment to the Constitution – co-sponsored by every Senate Republican – would require the president to submit and Congress to pass a balanced budget each year, cap federal spending at 18 percent of gross domestic product (below the 25.3 percent proposed in President Obama’s 2012 budget), and require a two-thirds vote of the House and Senate to raise taxes.
The proposal relies heavily on constitutional amendments introduced earlier this year, including an amendment co-sponsored by Sen. Moran.
Click here to view a fact sheet on the Consensus Balanced Budget Amendment.
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