Last week, I introduced a Principles-Based Balanced Budget Amendment to the U.S. Constitution that will require spending and revenue to balance, taking a step towards restoring fiscal responsibility.
Unlike previous proposals, this amendment grants Congress the authority to agree on the principles of upholding a balanced budget before implementing specific policies that will help us reach balance.
It also:
- Require the budget to balance within 10 years of adoption;
- Allows Congress the flexibility to detail how the budget should be balanced;
- Allows Congress to incur deficits when addressing emergency situations with two-thirds support in both chambers.
- Debts incurred during this time are to be paid back as soon as possible.
Fiscal responsibility is necessary for our nation and the generations that follow. And, once we balance our budget, Congress can turn its attention to other critical issues facing our nation such as securing our southern border, lowering taxes, and supporting our nation’s veterans.
To learn more about my Principles-Based Balanced Budget Amendment, please click HERE.