HYDE-SMITH COSPONSORS BALANCED BUDGET AMENDMENT BILL

 

 

 

WASHINGTON, D.C. – U.S. Senator Cindy Hyde-Smith (R-Miss.) today announced that she is the newest cosponsor to legislation proposing a constitutional amendment requiring the President and Congress to enact annual balanced budgets.

 

Hyde-Smith, who serves on the Senate Appropriations Committee, has cosponsored S.J.Res.24, a joint resolution requiring the President to submit, and Congress to approve, a balanced budget each year.

 

“Deficits and debt threaten the growing American economy and our national security over the long term.  We are well past the point of acting responsibly to control government spending and the national debt,” Hyde-Smith said.  “Congress must simply do more to eliminate waste and be good stewards of taxpayer dollars.”

 

In addition to requiring balanced budgets, S.J.Res.24 would require two-thirds approval in both houses of Congress to allow deficit spending and would cap spending at 18 percent of the Gross Domestic Product.  Certain waivers would be allowed during wartime or imminent danger to national security.

 

Hyde-Smith’s decision to cosponsor the balanced budget resolution coincides with an aggressive markup schedule set by Appropriations Committee Chairman Richard Shelby (R-Ala.) to complete the 12 annual appropriations bills for FY2019.

 

“Completing annual appropriations bills would be an important step in responsible federal budgeting,” Hyde-Smith said.  “I’m ready to work through Senate recesses, if necessary, in order to properly fulfill our responsibility to the American people.”

 

This markup schedule, set by Shelby and Vice Chairman Patrick Leahy (D-Vt.), would start with action on the FY2019 Agriculture Appropriations Bill next week and culminate with FY2019 Defense Appropriations Bill in late June.