Club for Growth Supports Sen. Lee’s Balanced Budget Amendment
WASHINGTON – The Club for Growth today endorsed S.J. Res. 5, a proposed constitutional amendment to balance the federal budget and restrict federal spending and taxes, which was introduced by U.S. Sen. Mike Lee (R-Utah) and 13 co-sponsors.
“Mike Lee’s amendment will not only balance the budget, but rescue America’s founding principles from a federal government increasingly indifferent to them,” said Club President Chris Chocola. “This amendment will force Congress to live within its means, and also limit those means to 18 percent of the nation’s income, more than enough for Washington to meet its constitutional responsibilities.”
“A balanced budget, limited government, and a constitutional commitment to economic liberty would jump start our economy, pay off our nation’s debt, and create millions of new jobs and businesses in coming years,” Chocola said. “Mike Lee’s balanced budget amendment is one of the best policy ideas we’ve seen in a long time, and would be a suitable tradeoff for the Obama Administration’s requested increase in the federal debt limit. The Club for Growth urges all members of the Senate to co-sponsor and support Lee’s proposal.”
Lee’s amendment would:
· Require Congress to pass a balanced budget every year;
· Limit federal expenditures to 18 percent of national economic output; and,
· Require 2/3 majorities in the House and Senate to raise taxes, deficit spend, or raise the federal debt ceiling.
“Mike Lee’s amendment will not only balance the budget, but rescue America’s founding principles from a federal government increasingly indifferent to them,” said Club President Chris Chocola. “This amendment will force Congress to live within its means, and also limit those means to 18 percent of the nation’s income, more than enough for Washington to meet its constitutional responsibilities.”
“A balanced budget, limited government, and a constitutional commitment to economic liberty would jump start our economy, pay off our nation’s debt, and create millions of new jobs and businesses in coming years,” Chocola said. “Mike Lee’s balanced budget amendment is one of the best policy ideas we’ve seen in a long time, and would be a suitable tradeoff for the Obama Administration’s requested increase in the federal debt limit. The Club for Growth urges all members of the Senate to co-sponsor and support Lee’s proposal.”
Lee’s amendment would:
· Require Congress to pass a balanced budget every year;
· Limit federal expenditures to 18 percent of national economic output; and,
· Require 2/3 majorities in the House and Senate to raise taxes, deficit spend, or raise the federal debt ceiling.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.