Sen. Mark Udall (D-Colo.) announced Tuesday that he will co-sponsor a Constitutional amendment requiring a balanced federal budget.
He is the first Democrat to sponsor such a measure in many years.
Udall is introducing his balanced budget amendment bill with Sen. Richard Shelby (R-Ala.). The bill would require that spending not exceed revenue in any given year.
Udall’s move is being taken as a sign of the unusual momentum deficit hawks enjoy in this Congress compared to previous years. It comes on a day when the Democratic head of the Senate Appropriations Committee, long-time earmarker Sen. Daniel Inouye (D-Hawaii), announced a two-year ban on earmarks in his committee. Udall had pushed for such a ban in the last Congress.
The Udall bill would also limit federal spending to the historical average of 20 percent of gross domestic product in a given year. It currently stands at 24.7 percent.
He is the first Democrat to sponsor such a measure in many years.
Udall is introducing his balanced budget amendment bill with Sen. Richard Shelby (R-Ala.). The bill would require that spending not exceed revenue in any given year.
Udall’s move is being taken as a sign of the unusual momentum deficit hawks enjoy in this Congress compared to previous years. It comes on a day when the Democratic head of the Senate Appropriations Committee, long-time earmarker Sen. Daniel Inouye (D-Hawaii), announced a two-year ban on earmarks in his committee. Udall had pushed for such a ban in the last Congress.
The Udall bill would also limit federal spending to the historical average of 20 percent of gross domestic product in a given year. It currently stands at 24.7 percent.
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