Congresswoman Kyrsten Sinema (AZ-09) and Congressman Steve Stivers (OH-15) introduced House Joint Resolution 81, a bipartisan constitutional amendment restricting the federal government from spending more than it receives.
"Arizonans are sick and tired of Washington's wasteful spending," said Congresswoman Sinema. "Congress must work together to balance our nation's budget, just like hardworking Arizonans do every day. This bipartisan, commonsense legislation requires the federal government to eliminate wasteful spending and live within its means. I'll continue working with my colleagues on both sides of the aisle to reduce the debt and deficit and provide long-term economic stability for Arizona families."
"When the government spends more than it brings in, it takes money and economic opportunity from our children. We owe it to future generations of Americans to get federal spending under control for the sake of our economy and our national security," Congressman Stivers said. "We are also putting our country in a position of weakness by borrowing money from other counties, like China."
The proposed resolution would amend the United States Constitution, which requires approval of a two-thirds majority of each house of Congress and subsequent ratification by 38 states. Once adopted, the Balanced Budget Amendment takes effect 10 years after ratification.
In case of a declaration of war or a national emergency, including a recession, Congress could waive the balanced budget requirement. This exception would require a majority vote in both chambers of Congress, and any debt incurred would be required to be paid back within 10 years.