Enzi Supports Balanced Budget Amendment
CHEYENNE, Wyo. (AP) — Sen. Mike Enzi is supporting the idea of a constitutional amendment requiring a balanced U.S. budget.
The Wyoming Republican is co-sponsoring a bill that would make a balanced budget a constitutional requirement.
Enzi says it’s the only solution to solving the nation’s fiscal mess.
The Balanced Budget Amendment would restrict Congress from spending more than federal revenue in any fiscal year and would limit spending to 18 percent of the gross national product.
Congress could only increase the debt, raise taxes or run a deficit if two-thirds of both the U.S. Senate and House vote in favor.
During times of war there will be allowances of specific excess as per defined processes.
Any proposed constitutional amendment would be subject to ratification by the states.