Flores Votes For Balanced Budget Amendment11/18/11
As Debt Soars Past $15 Trillion, BBA Would Provide Permanent Fix to Washington’s Spending-Driven Debt Crisis
WASHINGTON, D.C. – Today,the U.S. House rejected H.J. Res. 2, the Balanced Budget Amendment (BBA) to the Constitution, with a vote of 261-165, falling short of the two-thirds majority needed. Fifteen years ago, the same BBA passed the House with 300 bipartisan votes, only to lose by one vote in the Senate. U.S. Congressman Bill Flores (R-Texas) released the following statement after H.J. Res. 2, the Balanced Budget Amendment, failed to pass the House:
“This week, the national debt exceeded the $15 trillion mark. At its current trajectory, the national debt will pass 100 percent of the Gross Domestic Product (GDP) in the next few weeks. Not only does this signal a serious spending-driven debt crisis that hurts our economy today, but it also unfairly burdens our children and grandchildren, diminishing their opportunities to achieve the American dream.
“That is why I cosponsored and voted for H.J. Res 2, a bipartisan Balanced Budget Amendment to the Constitution. This BBA would permanently fix the way Washington frivolously spends hard-earned taxpayer dollars and would serve as the ultimate solution to our fiscal problems. The fundamental provision in H.J. Res. 2 is the simple requirement that Congress does not spend more than it takes in. American families and businesses must live by this principle every day, and they want Congress to abide by the same rule. 49 states also currently govern with some form of a balanced budget requirement. Unfortunately, more than 150 Democrats addicted to spending borrowed money, voted against this common-sense amendment, essentially granting themselves a blank check to continue the Obama-Pelosi-Reid spending spree.
“So far in the 112th Congress, the House has achieved a series of spending cuts and caps, but the best way to ensure that future Congresses cannot undo the work we have done is to set in stone the rules for governing our nation’s spending and enshrine fiscal responsibility in the Constitution. Furthermore, a BBA would inspire renewed confidence among job creators, many of whom are not hiring or investing, because they do not have the economic certainty to plan their budgets, hire new workers and pay good wages. America’s continued economic prosperity depends on changing our course on runaway spending and growing deficits. The time is now for a balanced budget amendment to force Washington to live within its means so that we may preserve America’s promise, prosperity and security for future generations.”
Background on 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;
- and 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.
To view Congressman Flores’s op-ed on the Balanced Budget Amendment from the Waco Tribune-Herald, click here.
Congressman Bill Flores represents the 17th District of Texas and is an entrepreneur, former business leader, Certified Public Accountant (CPA) and member of the House Budget, Natural Resources and Veterans’ Affairs Committees.