“We’re on a High-Speed Train Heading For a Fiscal Cliff”

Rep. Newhouse speaks on House floor in support of Balanced Budget Amendment to put nation’s fiscal house in order

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balanced budget

WASHINGTON DC- Rep. Dan Newhouse (R-WA) spoke on the House floor yesterday in support of a balanced budget amendment to the Constitution. Rep. Newhouse is a cosponsor, and the legislation was not approved by the House, falling short of the required two-thirds majority. In his floor speech Newhouse said, “in order for Congress to consistently make the tough decisions necessary to control spending, elected representatives need the external pressure of a balanced budget requirement.”

The bill would mandate that Congress not spend more money than it receives in revenue. This amendment would also require a true majority in both the House and Senate to pass a tax increase, along with a three-fifths supermajority requirement to raise the debt limit.