Several Versions of a Balanced Budget Amendment

Several Versions of a Balanced Budget Amendment

Soon, Congress will be required to vote on a constitutional amendment which would force the House and Senate to produce a balanced budget annually.  However, there are currently 18 different versions of such an amendment in the U.S. House of Representatives.  In an USA Today article, it says, “Some put a cap on federal spending as a percentage of the economy. Some put roadblocks to raising taxes or raising the debt limit, and some protect Social Security. Most require the president to propose a balanced budget, and all have a clause allowing Congress to ignore the rules during war or national emergency.”

In the U.S. Senate, only one Democrat proposed an amendment and that was by Senator Mark Udall of Colorado.  However, his very unlikely to garner any Republican support considering it removes Social Security from the budget and prohibits “tax cuts for millionaires unless the budget is balanced.”

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