Roe Statement on Balanced Budget Amendment
Nov 18, 2011 -
WASHINGTON D.C. – U.S. Congressman Phil Roe, M.D. (TN-01) spoke on the House floor in support of H.J. Res. 2, the Balanced Budget Amendment:
“This week, we will take what I believe is one of most important votes we will ever cast—on adding a balanced budget amendment to the U.S. Constitution.
“With our national debt approaching $15 trillion—more than $47,900 for every man, woman, and child in this country—it is time to get serious about spending. That’s why we must succeed where other Congresses have failed, and send this amendment to the states for ratification.
“We certainly can’t wait for the White House to lead. According to CBO, the budget submitted by the president earlier this year would at no time over the next 10 years bring the annual deficit below $748 billion.
“This balanced budget amendment would require Washington to live within its means, just like families, states, counties, and cities do. It simply says that spending cannot exceed revenues unless three-fifths of each chamber approves.
“Forty-eight states, including Tennessee, already have balanced-budget requirements. This is just common sense.
“I urge my colleagues to support this amendment and the principle that it represents—spend less that you take in.”
H.J. Res. 2:
- Requires that Congress not spend more than it receives in revenues unless a supermajority of 3/5 of both chambers vote to provide otherwise;
- Requires a corresponding 3/5 vote to raise the debt ceiling; and
- Requires the President to submit a balanced budget to Congress.
- Requires a majority roll call vote for any proposed bill to increase taxes.
- It also provides for a limited exception in times of war and serious military conflicts.
- H.J. Res. 2 would take effect beginning the 5th fiscal year after its ratification by the states.