Senator Richard Shelby (R-AL) is continuing his longtime championing of balancing the federal budget.
Alabama’s senior senator on Thursday re-introduced legislation proposing a constitutional amendment that would require Congress to have a balanced budget in an effort to reduce the nation’s increasing debt, which has surpassed $22 trillion.
Shelby, now the powerful chair of the Committee on Appropriations, has introduced similar legislation each Congress since joining the Senate in 1987.
“While our national debt continues to climb, it is imperative that we stop spending without proper constraint,” Shelby said in a statement. “I have long believed that our Constitution lacks a requirement for the federal government to balance the budget – something that hardworking Americans are required to do every day. This legislation would implement a common-sense policy to improve our spending of taxpayer funds and help protect the future of the next generation.”
If passed by Congress and then ratified by three-fourths of the states, this amendment to the Constitution would require that the total amount of money spent by the United States during any fiscal year, except during times of war, not exceed the amount of revenue received by the U.S. during the same fiscal year, and not exceed 20 percent of the gross domestic product of the U.S. during the previous calendar year.
Sean Ross is a staff writer for Yellowhammer News. You can follow him on Twitter @sean_yhn