A bipartisan constitutional amendment to restrict the federal government from spending more money than it receives was introduced this week by U.S. Reps. Steve Stivers (R-OH) and Kyrsten Sinema (D-AZ).
House Joint Resolution 81 follows reports that the national debt now tops $18.8 trillion.
“When the government spends more than it brings in, it takes money and economic opportunity from our children,” Stivers said. “We owe it to future generations of Americans to get federal spending under control for the sake of our economy and our national security. We are also putting our country in a position of weakness by borrowing money from other countries, like China.”
The proposed amendment to the Constitution requires a two-thirds majority of each house of Congress for approval, followed by ratification by 38 states or a 3/4 majority. If adopted, the amendment would take effect 10 years after ratification.
“Arizonans are sick and tired of Washington’s wasteful spending,” Sinema said. “Congress must work together to balance our 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.”