Mar 18 2021
WASHINGTON, DC – U.S. Senator Richard Shelby (R-Ala.) today re-introduced legislation proposing a constitutional amendment that would require Congress to have a balanced budget in an effort to reduce our nation’s increasing debt, which has surpassed $28 trillion. Having sponsored similar legislation each Congress since joining the Senate, this marks Senator Shelby’s eighteenth time to introduce the measure.
“While our national debt continues to climb, it is more apparent now than ever that the federal government should be required to do what hardworking Americans do every day – balance a budget,” said Senator Shelby. “I have long believed that our Constitution lacks proper constraint on government spending. If we continue in this unsustainable direction, the burden will land on our children and our grandchildren. That is why I am, once again, urging Congress to adopt this common-sense amendment that would improve our spending of taxpayer dollars, restore confidence in our economy, and help protect the well-being of our country for future generations.”
If passed by Congress and subsequently ratified by three-fourths of the states, this Constitutional amendment would require that the total amount of money spent by the United States during any fiscal year, except during times of war, not exceed the amount of revenue received by the country during the same fiscal year, and not exceed 20 percent of the gross domestic product of the United States during the previous calendar year.