House Approves Newhouse, Goodlatte, Stivers, Byrne Amendment to Require Administration to Address Balanced Budget Amendment before Raising Debt Ceiling

WASHINGTON, D.C.  – Today, the U.S. House of Representatives approved H.R. 3442, the Debt Management and Fiscal Responsibility Act, which included an amendment introduced by Rep. Dan Newhouse (R-WA), Rep. Bob Goodlatte (R-VA), Rep. Steve Stivers (R-OH), and Rep. Bradley Byrne (R-AL). The Debt Management and Fiscal Responsibility Act would require the Secretary of the Treasury to appear before Congress and submit a report on the general status of the nation’s debt and solutions to control the national debt in advance of any request to raise the debt ceiling. The amendment by Reps. Newhouse, Goodlatte, Stivers, and Byrne directs the Secretary of the Treasury to explain in the report whether the President recommends that Congress adopt a balanced budget amendment to control the accumulation of future debt.

“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,” said Rep. Newhouse. “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.”

Congressman Goodlatte: “The bleak fiscal future we are preparing to pass on to our children and grandchildren is unsustainable and irresponsible. Every Congress since 2007, I have introduced a Balanced Budget Amendment to require Congress to rein in the runaway spending we are slapping on our future generations. This amendment will force the president to take a stand on whether to continue to pursue a reckless path of increasing debt while opposing this bipartisan solution.”

“We owe it to future generations to get federal spending under control and to pay down our debt,” Congressman 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 federal government shouldn’t be able to spend more than it takes in. Families can’t do that. Businesses can’t do that. States can’t do that. That’s why we need to pass a balanced budget amendment that requires Washington to live within its means. This commonsense amendment would require the President to explain why he does or does not support a balanced budget amendment to the Constitution when proposing an increase in the debt ceiling. If we don’t get serious about reducing spending, we will never get our nation back on the right track.” – Congressman Bradley Byrne (R-AL)

Click here to watch Rep. Newhouse’s floor speech on the amendment.