Gallagher Supports Balanced Budget Amendment
Washington, D.C. – Today in the U.S. House of Representatives, Congressman Mike Gallagher will vote in support of the Balanced Budget Amendment (H.J. Res 2)—legislation that would be the first step in amending the Constitution of the United States to prohibit Congress from spending more than it takes in each year. The amendment is a bipartisan effort to hold the federal government accountable and help solve the growing U.S. debt crisis.
Rep. Gallagher said, “The Balanced Budget Amendment is a long-overdue step to help get our fiscal house in order, and I’ve been a proud co-sponsor of it since my first few months in office. I believe if we’re ever going to confront the institutional problems affecting Congress and its ability to 'Drain the Swamp', then this is a critical step we should be taking.”
Background on H.J. Res 2:
- The joint resolution proposes a constitutional amendment prohibiting total outlays for a fiscal year from exceeding total receipts for that fiscal year unless Congress authorizes the excess by a three-fifths roll call vote of each chamber.
- The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing.
- The amendment requires a three-fifths roll call vote of each chamber of Congress to increase the public debt limit. It requires a majority roll call vote of each chamber to increase revenue. It also requires the President to submit a balanced budget to Congress annually.
- Congress is authorized to waive these requirements when a declaration of war is in effect or if the United States is engaged in a military conflict which causes an imminent and serious military threat to national security.