Washington, D.C. – Congressman Scott Perry continued to fight the growing debt crisis by authoring a Balanced Budget Amendment, H.J. Res 50, to the United States Constitution.
“My bill’s designed to force Washington to make necessary and difficult financial decisions, just like any household must do every day,” said Congressman Perry. “As a Nation, we need to live within our means and stop spending money we don’t have.”
The legislation comes in the wake of the National debt reaching a record $22 trillion - the highest since World War II.
“The debt is deeply concerning; the interest on it for FY18 alone was $371 billion. In comparison, the United States paid $389 billion for Medicaid. The interest payments on our existing debt are taking away our ability to meet fundamental obligations, let alone fiscal crises or National emergencies,” Perry continued.
All but one state has a provision that requires a balanced budget. “Our state governments have demonstrated that a balanced budget for government is achievable,” said Perry.
Constitutional Amendments follow a different enactment process than regular bills. In order to become law, the Constitutional Amendment must pass House and Senate by a two-thirds vote; and then, three-fourths of all State legislatures must ratify the Amendment.
“Washington doesn’t have a revenue problem – it has a spending problem. Now’s the time to deal with the other side of the equation and adjust how we govern for the benefit of the American People and future generations,” Perry concluded.
Perry has introduced a Balanced Budget amendment to the Constitution in every legislative session since he entered Congress.