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“YES” on S.J. Res. 10, the “Consensus” Balanced Budget Amendment (BBA) to the Constitution.
December 13, 2011
NTU urges all Senators to vote “YES” on S.J. Res. 10, the “Consensus” Balanced Budget Amendment (BBA) to the Constitution. Sponsored by Sen. Hatch (R-UT) and Sen. Lee (R-UT), this amendment would establish strong constitutional limits on the size and future growth of the federal government.
S.J. Res. 10 would serve as a guardrail to keep future fiscal policy on a more sustainable and rational course. Among its many pro-taxpayer provisions, it would direct the President to submit, and Congress to enact, a balanced budget while allowing for a two-thirds vote to authorize any specific excess. It would also put the proper focus on the true cause of our fiscal maladies: overspending. By including an expenditure limitation consistent with average post-World War II revenues, this version of the BBA would provide a vital check on irresponsible budgeting. Furthermore, it would protect taxpayers by preventing a tax increase unless two-thirds of the House and Senate vote to do so.
NTU also urges Senators to vote “NO” on S.J. Res. 24, a BBA in name only due to several provisions that subvert its effectiveness and facilitate excessive spending. Introduced by Sen. Udall (D-CO), this amendment would exclude Social Security from the balance calculation, thus deliberately ignoring one of the chief drivers of the federal deficit and creating many opportunities for budgetary mischief. S.J. Res. 24 would also enshrine class-warfare in the Constitution by banning any reduction in income taxes for those with gross incomes in excess of $1 million if the budget became unbalanced in any year impacted by the tax reduction. Given these and other loopholes, S.J. Res. 24 is clearly meant to provide political cover for Senators who want to give the impression of supporting the BBA without voting for one that will actually do the job of controlling federal expenditures, taxes, and debt.
Roll call votes in favor of S.J. Res. 10, a strong Balanced Budget Amendment to the Constitution, and in opposition to the bogus “substitute,” S.J. Res. 24, will be among the most heavily weighted of the year in our annual Rating of Congress.
If you have any questions, please contact NTU Federal Government Affairs Manager Brandon Greife at (703) 683-5700