U.S. Senator Pat Toomey (R-Pa.) wants Congress to be required to balance the government's books and wants to make it harder to raise taxes. Therefore, he has signed on as an original cosponsor of the Balanced Budget Amendment Act (S.J.RES.7) which would:
*Require a balanced budget unless two-thirds of the U.S. House and Senate agree to waive the requirement
*Require a two-thirds vote to increase taxes in the U.S. House and Senate
*Limit spending to 18 percent of GDP unless two-thirds of the House and Senate agree to waive the requirement
*Require a two-thirds vote to increase the debt ceiling
"At a time when our deficits have reached unsustainable levels, it is crucial that we take serious and substantive steps to rein in our country's out-of-control spending," Sen. Toomey said. "The Balanced Budget Amendment will force Congress to start living within its means and return fiscal responsibility to Washington. It is time for Congress to put American taxpayers first, and the Balanced Budget Act will make sure this happens."