Today Congressman Bob Goodlatte voted in support of the revised Budget Control Act which prevents the government from defaulting on our current obligations while taking steps toward ending Washington's culture of spending. The legislation, which passed by a bipartisan vote of 269-161, contains a two-step process for cutting historic amounts of spending. It cuts and caps government spending immediately. The legislation will save $917 billion over 10 years in exchange for raising the debt ceiling by $900 billion to approximately February. Before the debt ceiling can be raised again, Congress and the President must enact spending cuts at least as large as any potential increase in the debt ceiling. Most importantly the proposal requires that both the House and the Senate vote, by the end of the year, on a balanced budget Constitutional amendment, like the one Congressman Goodlatte introduced on the first day of the 112th Congress. The revised Budget Control Act accomplishes all of these goals without raising taxes.
Congressman Goodlatte issued the following statement after the vote on the Budget Control Act:
"Today the House passed the revised Budget Control Act, which prevents the government from defaulting on our current obligations while taking the necessary steps to rein in Washington's out-of-control spending. This legislation, which is the result of bipartisan negotiations, cuts more federal spending than it increases the debt limit and takes the critical first steps toward bringing fiscal responsibility back to Washington.
In addition to the spending cuts and caps included in the legislation, it requires the House and Senate to vote on a balanced budget Constitutional amendment, which I have taken the lead in working on for many years. Passage of a balanced budget Constitutional Amendment is the kind of fundamental reform that the federal government so desperately needs. It is the only way to ensure that any cuts that are made today don't easily disappear tomorrow. The overwhelming majority of the American people not only support this Constitutional amendment by understand the need for it.
With forty-nine out of fifty state governments, including Virginia, required to balance their state budgets, people are amazed that the federal government is not restrained in this way and strongly support a balanced budget amendment to the U.S. Constitution. After all, living within your means is a concept that most Americans are all too familiar with and they expect nothing less from the federal government."