Congressman Zach Nunn of Iowa’s Third Congressional District has introduced his first bill proposing a Constitutional amendment that will balance the federal budget, helping to curb vast overspending and governmental involvement in the lives of Iowans.
“In Iowa, we have common sense, we work hard, and we live within our means. Why can’t the federal government do the same? While our families must plan for a balanced budget to afford basic necessities, especially with inflation at 40-year highs, our federal government continues to operate in a league of their own,” Rep. Nunn said. “It’s time to restore a sensible, functional government that works for the American people, not one that irresponsibly spends money and taxes us. Having a balanced budget is a step in the right direction to restoring good public service to every single American regardless of party or background.”
With government spending at an all-time high, the need to pass a balanced budget is even more urgent. U.S. debt now exceeds $31 trillion dollars.
Rep. Nunn’s bill proposes a Constitutional amendment prohibiting total outlays for a fiscal year from exceeding total receipts for that fiscal year unless Congress authorizes the excess by a three-fifths roll call vote of each chamber. The prohibition would exclude outlays for repayment of debt principal and receipts derived from borrowing. Additionally, the bill would:
- Require three-fifths roll call vote of each chamber of Congress to increase the public debt limit;
- Require a majority roll vote of each chamber to increase revenue;
- Require the President to submit a balanced budget to Congress annually; and
- Allow for a waiver for use during wartime or imminent danger to national security.
The full text of the legislation is available here.