By Laurel Brishel Prichard University of New Mexico/Talk Radio News Service
Rep. Mike Coffman (R-CO) along with Reps. Jim Marshall (D-GA) and Bob Goodlatte (R-VA) unveiled new legislation on Thursday aimed at balancing the federal budget. According to Marshall, H.J. Res. 1 is an amendment that would force government to “make the tough decisions.”
Over the past 50 years, the nation's budget has been in balance only four times, said Marshall. This amendment would attempt to balance the budget within five years, which “will be a major challenge,” he said.
“It’s not the concept that is hard; it’s finding the will to do so. Millions of American families do it. Millions of American small businesses do it. 49 states do it. It's time for the federal government to do it too,” said Coffman.
With the country's debt currently over $12 trillion, the legislation would place restraints on how the government keeps its books. Even President Barack Obama would be required to submit a proposed budget for any fiscal year in which total outlays would not exceed total receipts.
“The problem that we have right now is that everyone gets what they want,” Coffman lamented.
In 1995 and 1997, a similar amendment passed through the House, but ultimately died in the Senate. This newly formed bipartisan caucus would fight to ensure the amendment passes this time around.
"I think this amendment will pass if we just get it out of the House and Senate...The states will [ratify] this in a heartbeat," said Marshall.
The resolution currently has 175 cosponsors, and needs just 125 more to reach the required two-thirds majority in order to pass the House.
Bipartisan Caucus Calling On Government To Balance The Budget
University of New Mexico/Talk Radio News Service
Rep. Mike Coffman (R-CO) along with Reps. Jim Marshall (D-GA) and Bob Goodlatte (R-VA) unveiled new legislation on Thursday aimed at balancing the federal budget. According to Marshall, H.J. Res. 1 is an amendment that would force government to “make the tough decisions.”
Over the past 50 years, the nation's budget has been in balance only four times, said Marshall. This amendment would attempt to balance the budget within five years, which “will be a major challenge,” he said.
“It’s not the concept that is hard; it’s finding the will to do so. Millions of American families do it. Millions of American small businesses do it. 49 states do it. It's time for the federal government to do it too,” said Coffman.
With the country's debt currently over $12 trillion, the legislation would place restraints on how the government keeps its books. Even President Barack Obama would be required to submit a proposed budget for any fiscal year in which total outlays would not exceed total receipts.
“The problem that we have right now is that everyone gets what they want,” Coffman lamented.
In 1995 and 1997, a similar amendment passed through the House, but ultimately died in the Senate. This newly formed bipartisan caucus would fight to ensure the amendment passes this time around.
"I think this amendment will pass if we just get it out of the House and Senate...The states will [ratify] this in a heartbeat," said Marshall.
The resolution currently has 175 cosponsors, and needs just 125 more to reach the required two-thirds majority in order to pass the House.