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Gibson Votes for Balanced Budget Amendment

Press Release

Location: Unknown

Congressmen Chris Gibson (NY-20) voted in support today of a Balanced Budget Amendment (BBA) to the U.S. Constitution, which failed to get a two-thirds majority in the House.

"I promised my constituents a focus on three priorities in Washington: growing the economy, working towards a balanced budget, and protecting freedoms. Today was an opportunity to make good on one of those promises. Both parties have proven unable to balance our books, and this balanced budget amendment could make a significant change to the way we conduct business here in Washington. We have an obligation to be responsible stewards of taxpayer money and not further drive our country into debt," said Congressman Gibson. "Just like New York State, it is critical we balance our budget every year, and that is why I was proud to cast a "yes' vote today -- keeping that commitment to residents of the 20th District."

The House considered a similar version of the BBA to the one that passed the House in 1995. That BBA was defeated by one vote in the Senate, where a two-thirds majority is also required.

H.J. Res. 2:

* Requires that Congress not spend more than it receives in revenues unless a supermajority of 3/5 of both chambers vote to provide otherwise.
* Requires a corresponding 3/5 vote to raise the debt ceiling.
* Requires the President to submit a balanced budget to Congress.
* Requires a majority roll call vote for any proposed bill to increase taxes.
* It also provides for a limited exception in times of war and serious military conflicts.
* H.J. Res. 2 would take effect beginning the 5th fiscal year after its ratification by the states.

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