This week, the House of Representatives will vote on House Joint Resolution 2, which proposes a Balanced Budget Amendment to the Constitution. This legislation, introduced by Representative Bob Goodlatte (R-VA), is critical as we move forward in our efforts to bring our nation's spending back under control.
Make no mistake, our nation has had a spending problem for a long time. The federal budget has only been balanced six times since 1960. And the national debt has increased 34 percent under President Obama, the fastest increase in debt under any President in history. It is clear that a BBA is needed to keep spending in check.
The last time a BBA came to the floor for a vote in Congress, it fell one Senate vote short of passage. Imagine how different the spending culture in Washington would be if it had passed. The American people want a BBA - a CNN poll this past July showed 74 percent of Americans want a BBA -- and so do I.
Specifically, H.J. Res. 2 will:
* Require Congress not spend more than it receives in revenues unless a 3/5 supermajority of both chambers provides otherwise
* Require a 3/5 supermajority to raise the debt limit
* Require the President to submit a balanced budget to Congress
* Require a majority roll call vote for any proposed bill to increase taxes
* Provide for a limited exception in times of war and serious military conflicts
Again, this is the same legislation that passed the House in 1995, falling one vote short of passage in the Senate. The time is now to pass a BBA.
Also, if you have questions regarding the BBA, submit them in the comments and I will post some video responses later in the week.