U.S. Rep. Ron Estes (R-KS) has signed on to cosponsor a House resolution that would propose a balanced budget amendment to the U.S. Constitution.
“Our country borrows about $90,000 per second, each American is on the hook for $100,000 of debt, and between January and October of this year, our national debt is expected to increase from $34 trillion to $36 trillion,” Rep. Estes said. “These numbers aren’t overblown talking points, they’re undisputed facts that are detrimental to the health and safety of our nation.”
Rep. Estes cosponsored the Business Cycle Balanced Budget Amendment, House Joint Resolution 113, on Feb. 7 with bill sponsor U.S. Rep. Jodey Arrington (R-TX). The legislation would require the federal government to balance its budget and rein in out-of-control spending.
The amendment would balance the budget based on a three-year rolling average of revenue, information from the congressman’s office said. That type of budget balancing system would allow for fluctuations that occur over various economic cycles and would give greater predictability from year to year. The bill also establishes a gradual 10-year transition from ratification to balance and allows for deficits during emergencies.
“In the last three decades, our debt has exponentially increased more than 600 percent. I’ve consistently called for a balanced budget amendment to our Constitution to start to address this spending crisis, and I fully support Budget Chairman Arrington’s proposal as an original cosponsor,” Rep. Estes added.