Mike Pence unveiled his plan to curb federal spending last week by enacting a constitutional amendment that would cap spending to 20 percent of the federal budget.
Unveiling his proposal, Mike Pence offered the following remarks:
“Because of Bidenomics, American families are forced to tighten their purse strings. It’s not too much to ask our federal government to do the same.
“As President, I will break this relentless break-the-bank cycle and usher in a new era of fiscal responsibility in our nation’s capital. I will work with Congress to set a cap on federal spending at one-fifth of our nation’s economy. No more runaway spending and no more fiscal freefall.”
Additional details about Pence’s proposed constitutional amendment are below and can be found here.
As President, Mike Pence will work to pass the Spending Limit Amendment to the Constitution. This amendment would hold politicians accountable for their reckless spending and restore fiscal sanity in Washington:
- The amendment would limit spending to one-fifth of the economy.
- The limit could only be waived by a declaration of war or by a two-thirds congressional vote.
- Congress would be forced to cut deficit spending or face automatic cuts.
- Unlike other proposed Constitutional amendments, the Spending Limit Amendment will not incentivize Congress to raise taxes on hard-working Americans who are being crushed by inflation.
- President Pence will work with Congress to introduce and pass the amendment and campaign across the country until it is ratified.
