WASHINGTON -- Congressman Thaddeus McCotter (MI-11) is a signatory on a letter to Majority Leader Rep. John Boehner (R-OH) and Rep. James Sensenbrenner (R-WI), Chairman of the House Judiciary Committee, seeking support for a floor vote on H.J. Res. 58, which calls for a Balanced Budget Amendment. The following is the text of that letter:
The Honorable John A. Boehner
Majority Leader, House of Representatives
H107 Capitol
Washington, DC 20515-6502
The Honorable F. James Sensenbrenner, Jr.
Chairman, Committee on the Judiciary
2138 Rayburn House Office Building
Washington, DC 20515-6216
Dear Majority Leader Boehner and Chairman Sensenbrenner:
We appreciate your shared concern for our nation’s fiscal well being and write to request your action for bringing H.J. Res. 58, the Balanced Budget Amendment, to a Floor vote during June 2006. H.J. Res. 58 is the same version that the House passed in 1995 with 300 votes. Only the Senate’s failure to pass the BBA by one vote in 1996 kept Congress from sending it to the States where ratification was almost certain. Since then, Congress has not seriously considered this issue and now is an opportune time to rectify that lapse with a much overdue vote.
The idea of a balanced budget is part of mainstream America. Forty-nine of our 50 states, and Puerto Rico, have adopted laws requiring their state to balance their budgets. A recent National Taxpayer Union poll found large and ever-growing public support for such an amendment. The poll also found that almost 69% of registered Democrats, 66% of independent voters and 61% of Republicans favor a balanced budget amendment.
Congress balanced the budget from 1998 to 2001 and retired $449 billion in debt. Now, we need to ensure that those balanced budgets were not temporary. Today our national debt exceeds $8 trillion, increasing by over $3.7 trillion since 1995 and by $2.8 trillion since 2001 alone. Thanks to our accelerating national debt, every man, woman and child in the United States now owes nearly $29,000. Projections are that the total debt will soar to $11.5 trillion by 2011 and equal 68 percent of our nation’s gross domestic product. Even after considering the costs of the War on Terrorism and increased homeland security spending since 9/11, the Congressional Research Service estimates that if the 104th Congress had approved the BBA in 1995-96 and if it had been ratified and become effective by 2002 the projected debt would be reduced by $3.7 trillion by 2011. The BBA authorizes Congress to spend extra if necessary for national security—if supported by a 60% super-majority of Congress—but requires federal spending to balance with receipts under all other circumstances.
The President’s plan calls only for halving the annual deficit by 2009. Passage of the BBA is the first step in greatly accelerating deficit reduction, but a Floor vote on H.J. Res. 58 is necessary to show that Congress is serious for bringing deficits under control and reigning in our debt. Swift action by Congress is critical, as ratification by three-fourths of the states requires time and the BBA’s provisions will not affect the budget until fiscal year 2012 or with the second fiscal year beginning after its ratification, whichever is later.
America's politicians will never get serious about controlling federal spending until they have no other choice. Until then, low-priority programs will continue to receive exorbitant funding and spending will remain unchecked. That is why the BBA is critical for restoring sanity to federal spending. We believe getting the BBA through committee and onto the floor deserves a very high priority. Passage of this amendment is necessary to ensure that our children inherit the American Dream, not the national debt.
H.J. Res. 58 enjoys the support of 128 bipartisan cosponsors. We look forward to working with you for the reporting of H.J. Res. 58 out of the Committee on the Judiciary and its bringing up before the full House of Representatives for a Floor vote during June 2006.
Sincerely,