U.S. Representative Zach Nunn (IA-03) on Friday introduced a resolution to curb out-of-control spending by the federal government. The resolution would amend the U.S. Constitution to balance the federal budget.
“In Iowa, we have common sense, we work hard, and we live within our means. Families, farms, and Main Street businesses balance their budget – and the federal government should do the same,” said Rep. Nunn. “It’s time to restore a sensible, functional government that works for the American people, not one that recklessly spends money.”
Washington’s spending habits are completely out of control. The U.S. debt now exceeds 36 trillion dollars. This amendment would rein in government spending, promote accountability, and prevent waste in Washington, D.C.
Rep. Nunn’s resolution 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 a 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.
