Sen. Mike Lee, R-Utah, cautioned against “phony” spending reform in an op-ed for The Hill on Tuesday, noting that the recent debt-limit deal requires that Congress vote on a balanced-budget amendment to the Constitution.
“If Congress is serious about dealing with our fiscal crisis, it will oppose efforts to pass a phony, watered-down version of the balanced budget amendment and will instead send a strong spending restraint to the states for ratification,” Lee writes.
In order to truly rein in spending, Lee argues, a balanced budget amendment must do four things:
- “It must apply to all spending,” including spending on Social Security and other entitlements, Lee writes.
- It “must cap spending at the average historical level of federal revenue as a percentage of gross domestic product,” in order to make sure spending does not outpace revenue
- It “must require a supermajority vote in both houses of Congress to raise taxes.”
- It “must require a supermajority vote in Congress to raise the debt limit.”
“All 47 Republican Senators have cosponsored legislation, SJ Res 10, which contains all four of these protections,” Lee writes.
DON'T MISS TODAY'S TOP STORIES