Congressman Lamar Smith (R-Texas) today voted in favor of legislation that requires President Obama to produce a plan for a balanced budget. The Require a PLAN Act (H.R. 444) directs the President to provide a balanced budget plan to Congress by April 1, 2013. The bill passed the House of Representatives by a vote of 253-167.
Congressman Smith: "The President is required by law to provide Congress with a budget the first Monday in February each year. President Obama has missed this deadline four out of five years in office. Senate Democrats have not passed a budget in four years. That's irresponsible.
"Meanwhile, House Republicans have put forward a plan to cut spending, reduce the deficit and balance the budget. It's time for the President to show hardworking American taxpayers how their money is being spent.
"The federal government now borrows 40 cents on every dollar it spends. Under President Obama's big government policies, the deficit has doubled. No family, no community, no country can sustain that kind of excessive spending. It's the road to bankruptcy.
"A fundamental responsibility of the government is to set budgets and stick to them. This is necessary not only to keep the country running, but to prevent it from running into the ground. It's time for the President to stop spending and start working with Republicans to save America's fiscal future."
Background on H.R. 444: H.R. 444 requires the President to submit a supplemental budget by April 1, 2013 in the event that the President's initial 2014 budget submission does not achieve balance within a fiscal year covered by the initial budget. The bill also requires the President to outline the policies and timeline for achieving a balanced budget.