Senate Defeats Balanced Budget Amendment
The U.S. Senate has defeated two proposals to add a balanced budget amendment to the U.S. Constitution.
Wyoming Sen. Mike Enzi supported the Republican proposal from Sen. Orrin Hatch. It would have required that spending not exceed revenues in any one fiscal year. It would have also required a two-thirds majority to raise taxes.
A Democratic proposal sponsored by Colorado Sen. Mark Udall also failed Wednesday.
Enzi argued that the nation needs to “put a fiscal straightjacket” on its addiction to spending money it doesn’t have.
The House failed to approve a balanced budget amendment in a vote several weeks ago.