The House approved the Debt Management and Fiscal Responsibility Act, H.R. 3442, on Thursday which included an amendment co-authored by U.S. Rep. Steve Stivers (R-OH) to require the Obama administration to report to Congress ahead of any request to raise the debt ceiling.
The amendment requires the Treasury Secretary to report to Congress on the status of the nation’s debt, and solutions to control it, before any request to raise the debt ceiling.
“We owe it to future generations to get federal spending under control and to pay down our debt,” Stivers said. “Endorsing a balanced budget amendment would demonstrate a commitment from the administration to fiscal discipline. The future of our economy and our national security depends upon it.”
The amendment, which Stivers co-authored with U.S. Reps. Dan Newhouse (R-WA), Bob Goodlatte (R-VA) and Bradley Byrne (R-AL), would direct the Treasury Secretary to report on whether the president recommends congressional adoption of a balanced budget amendment.
“As our national debt blows past $19 trillion, the American people have the right to know whether this or any future administration is serious about reining in the national debt,” Newhouse said. “Securing the fiscal future of our children and grandchildren demands a realistic assessment of our skyrocketing national debt and solutions such as a balanced budget amendment. Any request to raise the debt limit should hold the administration accountable for an effective approach to reduce the national debt.”
Byrne added that the federal government “shouldn’t be able to spend more than it takes in,” and a balanced budget amendment would for force Washington to live within its means.