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Posted September 11, 1995
EXPLANATION: The Balanced Budget Amendment is a proposed Constitutional Amendment to balance the budget by the year 2002 or two years after ratification of the amendment, whichever is later. The balanced budget requirement could be waived in times of war by a 3/5 vote in both chambers of Congress. A 3/5 vote in both chambers would also be required to run a deficit or to increase the national debt.
RELEVANT COMMITTEES: House Joint Resolution 1, proposing a balanced budget amendment to the Constitution, was referred to the House Committee on the Judiciary and the Senate Committee on the Budget.
STATUS: The Balanced Budget Amendment passed the House of Representative on January 26, 1995 by the necessary 2/3 majority for amendments to the Constitution (300-132). The amendment failed in the Senate on March 2, 1995 because it lacked the 2/3 majority support by two votes (65-35).
SPONSORS: Rep. Joe Barton (R-TX) and 179 other House representatives.
PRO: Supporters of the amendment say that the amendment is the only way to insure that Congress has the courage to balance the budget.
"The debt is over $4 trillion and it has been 25 years since the Federal Government has endorsed a fiscal year surplus."--Rep. Walter Jones Jr. (R-NC).
CON: Opponents argue that the Amendment would take away the government spending that cushions the economy in hard times, such as recessions. Furthermore, opponents claim that the amendment will harm Social Security and empower the courts to have control over spending decisions.
"What other Constitutional requirements would we like to waive with a three-fifths vote? Freedom of religion? Freedom of speech?"--Sen. Mark Hatfield (R-OR).
WHAT'S NEXT: Senate majority leader Bob Dole (R-KS) changed his vote to "No"--a vote against the amendmen--in a parliamentary move that will allow him to bring up the amendment again for a re-vote.