Goodlatte Reintroduces Balanced Budget Amendment

Press Release

In the opening hours of the 112th Congress, Congressman Bob Goodlatte reintroduced a balanced budget Constitutional amendment, which will require Congress to enact fiscally responsible spending measures, reduce the deficit, and ensure that the money our citizens work so hard to earn is not squandered on wasteful spending and programs. Thus far, 141 bipartisan Members of Congress have signed on to Congressman Goodlatte's legislation as cosponsors. Congressman Goodlatte previously introduced this legislation in the 110th and 111th Congresses.

"We have a spending addiction in Washington, D.C., and it has proven to be an addiction that Congress cannot control on its own and which is bringing dire consequences," said Rep. Goodlatte. "We have gone in a few short years from a deficit of billions of dollars to a deficit of trillions of dollars. The government is borrowing money at an unprecedented pace, which presents serious risks of massive inflation. Our national debt recently surpassed an astonishing $14 trillion and continues to rapidly increase, along with the waste associated with paying the interest on that debt."

The balanced budget amendment is a commonsense measure that is long overdue. It requires that Congress not spend more than it receives in revenues, requires the President to submit a balanced budget to Congress, and requires a 3/5 majority vote to increase the debt limit, while also providing an exception in times of national emergencies. A Constitutional amendment will force Congress to eliminate unnecessary and wasteful spending and make the decisions necessary to balance the budget and eliminate the federal deficit. Currently, forty-nine out of fifty state governments, including Virginia, have a balanced budget requirement.

"Congress' spending addiction is not a partisan one," said Rep. Goodlatte. "It reaches across the aisle and afflicts both parties, which is why neither party has been able to master it. A balanced budget amendment to our Constitution will once and for all require Congress to rein in this out-of-control behavior. "

Goodlatte continued, "Our federal government must be lean, efficient and responsible with the dollars that our nation's citizens worked so hard to earn. We must work to both eliminate every cent of waste and squeeze every cent of value out of each dollar our citizens entrust to us. Families all across our nation understand what it means to make tough decisions each day about what they can and cannot afford and government officials should be required to exercise similar restraint when spending the hard-earned dollars of our nation's citizens."

In addition, Congressman Goodlatte introduced another Constitutional amendment that has three parts. This resolution would (1) amend the Constitution to require that total spending for any fiscal year not exceed total receipts; (2) require that bills to raise revenues pass each House of Congress by a 3/5 majority; and (3) establish an annual spending cap such that total federal spending could not exceed 1/5 of the economic output of the United States. The bill would also require a 3/5 majority vote for any increases in the debt limit.

Both pieces of legislation have been referred to the House Judiciary Committee on which Congressmen Goodlatte serves as a senior Member.

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