Today Congressmen Bob Goodlatte (R-VA) and Peter DeFazio (D-OR) announced significant support from both sides of the aisle for H.J.Res 2, a balanced budget amendment to the Constitution, which will be considered by the full House of Representatives this week.
Reps. Goodlatte and DeFazio were joined by Reps. Trent Franks (R-AZ), Mike McIntrye (D-NC), Mike Conaway (R-TX), Jim Cooper (D-TN), Mike Coffman (R-CO), Jim Costa (D-CA), Allen West (R-FL), and Jason Altmire (D-PA) in releasing the following statement:
"A few weeks ago, the total U.S. debt exceeded the nation's gross domestic product (GDP) for the first time since World War II. The average amount each citizen owes on the debt is now greater than his or her average salary. It is time for Congress to take action before this crisis spirals completely out of control.
This week the House will consider a bipartisan balanced budget amendment. H.J.Res. 2 is the same legislation that passed the House with bipartisan support in 1995 and fell only one vote short in the Senate. It is the only balanced budget proposal to have the support of a majority of the Members of the House of Representatives. The amendment forces Congress to live within its means by ensuring that total federal spending does not exceed total revenues.
A strong majority of Americans support a balanced budget amendment to the Constitution. After all, they know what it means to live by a budget and they rightfully expect the federal government to do the same. They are asking Congress to work together to ensure that this amendment, which is so critical to the future of our country, becomes a reality.
For the House of Representatives to pass this important legislation one thing is certain -- it must be bipartisan. We are committed to working with our colleagues on both sides of the aisle to build even more support for H.J.Res. 2. We know this legislation represents the best chance of ensuring that our children will face a much brighter fiscal picture."
A Constitutional amendment must pass with the support of two-thirds of both the House (290 votes) and the Senate (67 votes) before it goes to the states for ratification. Three quarters of the states must ratify the amendment before it becomes part of the U.S. Constitution.