WASHINGTON, D.C. – With a looming battle over the nation’s debt and borrowing authority, U.S. Senator Shelley Moore Capito (R-W.Va.) joined Cindy Hyde-Smith (R-Miss.) and 22 colleagues to introduce a balanced budget amendment to the U.S. Constitution to force the president and Congress to enact annual balanced budgets.

The joint resolution (S.J.Res.13) proposes a constitutional amendment to establish requirements for the submission and approval of annual balanced budgets, including guidelines regarding exceeding spending caps and raising taxes.

“Throughout my career in public service, I have called for the government to act as every family and business has to each and every day to responsibly balance their budgets.  Something so basic should not be this elusive for Congress to do, which is why we need this Constitutional Amendment,” Senator Capito said.

“The old saying goes, ‘Money doesn't grow on trees.’  This is a lesson lost on Democrats whose intent to spend trillions upon trillions of taxpayer dollars to grow government is astounding by any measure,” Senator Hyde-Smith said. “Most Americans understand that our growing deficit and national debt will catch up with us if we don't act to control spending. We must learn to live within our means. Mississippi is required to balance its budget and Washington should too. My balanced budget amendment provides the American people and our nation’s leaders with a responsible framework to save the country from a future of perpetual and unsustainable red ink.”

The joint resolution would amend the U.S. Constitution to:

·        Require the president to submit a balanced budget;

·        Require Congress to pass a balanced budget;

·        Restrict federal spending to 18% of the Gross Domestic Product (GDP);

·        Require two-thirds majority votes in the House and Senate to raise taxes;

·        Require a new three-fifths majority vote in both houses of Congress to raise the debt limit.

S.J.Res.13 also includes certain spending waivers for use during wartime or imminent danger to national security.  

In addition to Senators Capito and Hyde-Smith, original cosponsors of the measure include: U.S. Senators John Cornyn (R-Texas), John Thune (R-S.D.), Joni Ernst (R-Iowa), John Barrasso (R-Wyo.), Steve Daines (R-Mont.), Cynthia Lummis (R-Wyo.), James Risch (R-Idaho), Marsha Blackburn (R-Tenn.), Mike Crapo (R-Idaho), Deb Fischer (R-Neb.), John Hoeven (R-N.D.), Kevin Cramer (R-N.D.), Todd Young (R-Ind.), Ted Budd (R-N.C.), Pete Ricketts (R-Neb.), Thom Tillis (R-N.C.), Roger Wicker (R-Miss.), Bill Hagerty (R-Tenn.), Roger Marshall, M.D. (Kan.), Markwayne Mullin (R-Okla.), Katie Britt (R-Ala.), and Mike Lee (R-Utah).

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