Wed November 17, 2010
Sen. Cornyn Wants Balanced Budget Amendment
Senator John Cornyn (R-TX) called on Congress and President Obama to support his resolution to add a balanced budget amendment to the U.S. Constitution. The resolution was voted on by Senate Republicans Tuesday. Cornyn said on the floor of the U.S. Senate that in a time with, "historic levels of federal spending and debt and deficits," Congress should consider the kind of economy it will be leaving to future Americans.
Cornyn said he knows such an amendment could work because his home state of Texas already has one. Because of the amendment Texas lawmakers will need to cut between $15 and $25-billion from the state budget.
Cornyn wants Congress to take action during the current lame duck session, but has already said he plans to re-file the legislation in the next Congressional session beginning in January. That's when Republicans will have control of the U.S. House will gain several seats in the Senate.
Cornyn's full resolution reads:
“It is resolved by the United States Senate Republican Conference, that a Balanced Budget Amendment to the United States Constitution is necessary to restore fiscal discipline to our Republic; that a Balanced Budget Amendment should require the president to submit to Congress a proposed budget prior to each fiscal year in which total federal spending does not exceed total revenue; that Balanced Budget Amendment should include a requirement that a supermajority of both houses of Congress be necessary to increase taxes; and that a Balanced Budget Amendment should include a limitation on total federal spending.”