Today, the House of Representatives passed H.R. 444, the Require a PLAN Act. This bill would require the president to set forth a balanced budget. Following passage of H.R. 444, U.S. Congressman Bill Flores (R-Texas) issued the following statement.
"Over the last four years President Obama has added $5.8 trillion to our federal debt, and the federal government is spending $1 trillion more than it takes in. This out-of-control federal spending needs to come to an end. It is time that the president confronts this issue head on and put forth a budget that will control federal spending. With passage of the Require a PLAN Act, the president will be held accountable to produce a balanced budget that would ultimately eliminate the deficit.
"For the last two years, House Republicans have passed budget proposals that balance the federal budget and promote economic growth. Meanwhile, for almost four years, the Senate has failed to pass a budget proposal or to attempt to meet our fiscal challenges -- causing America to experience a shrinking economy, stagnant job growth and low consumer confidence. Once again, House Republicans are ready to lead by example as we begin to work on a responsible budget that includes a process to balance the federal budget within 10 years and expand opportunities for all Americans with a path to prosperity."
The Require a PLAN Act, H.R. 444, will require the White House to either produce a balanced budget within a 10 year window or provide a supplemental budget plan by April 1, 2013, that identifies in which fiscal year their plan would achieve balance.
Congressman Bill Flores represents the 17th District of Texas and is an entrepreneur, former energy executive, Certified Public Accountant (CPA) and member of the House Budget, Natural Resources and Veterans' Affairs Committees.