Congressman Bob Goodlatte voted in support of the Budget Control Act which prevents the government from defaulting on our current obligations while also working to change the real problem --- Washington's culture of spending. The legislation, which passed by a vote of 218-210, is a two-step process for raising the debt limit. It cuts and caps government spending immediately. The legislation will save $917 billion over 10 years while caps on federal spending will put the federal government on the path toward a balanced budget. It requires that the House and Senate vote later this year on a proposal to reduce the deficit by at least $1.8 trillion over 10 years. Before the President can request an additional increase of the debt ceiling additional spending cuts must be made that are larger than the debt increase as well as the House and Senate must pass a balanced budget Constitutional amendment, like the ones Congressman Goodlatte introduced on the first day of the 112th Congress.
Congressman Goodlatte issued the following statement after the vote on the Budget Control Act:
"The House has now passed the Cut, Cap and Balance Act and the Budget Control Act, which both prevent the government from defaulting on our current obligations while taking the necessary steps to rein in Washington's out-of-control spending. It's time the U.S. Senate joined us in our efforts to bring fiscal responsibility back to Washington.
The Budget Control Act makes the real cuts and reforms that are needed to get our out-of-control government spending and ever increasing debt under control while preventing the government from defaulting on our obligations.
In addition to the spending cuts and caps included in the legislation, it requires the House and Senate to pass a balanced budget Constitutional amendment, like the ones I have introduced. It is this provision of the Budget Control Act that will force Washington to make the institutional reform that we so desperately need and that the American people are demanding.
The American people not only want Congress to pass a balanced budget amendment as national surveys repeatedly show but they also understand what it means to live within their means and know that businesses and local and state governments have to do the same. They expect nothing less from the federal government.
A balanced budget amendment to the Constitution is the only way to ensure that Congress curtails its spending on an annual basis regardless of which party is in control and in turn would help eliminate the need for future increases in the debt limit because the federal government would no longer need to routinely borrow money to finance its spending."