In a victory for supporters of sound fiscal policy, the 2012 Republican Party platform has endorsed a balanced budget amendment, CNS News reports. The proposed amendment would force Congress to erase the debt by cutting spending and with no increases in taxes.
Though the Republican Party has a reputation for fiscal conservatism, this is the first time that such an amendment has been included in the GOP platform. A similar amendment failed by one vote during the 1996 Convention.
A vote on the amendment was held by Congress last year but failed to achieve the two-thirds majority necessary for passage.
More information on the proposed amendment is available at cnsnews.com.
