McSally Supports Balanced Budget Amendment

WASHINGTON, DC –U.S. Representative Martha McSally today voted in support of the Balanced Budget Amendment, a measure she cosponsored which amends the U.S. Constitution to prevent Congress from spending more than it receives in revenue.

“This amendment does not ask the government to do anything less than what American families and businesses on main streets across this nation do every day: live within our means. Our nation is careening towards a fiscal crisis and giving China—the number one country holding America’s debt—the keys to our financial security,” said Congresswoman McSally. “This amendment would take definitive action to reverse course and provide the external pressure necessary to rein in our spending. The American people want this amendment to hold Congress accountable, and it’s time we finally do.” 

Forty-nine states are required to have balanced budgets, either by statute or a Constitutional amendment, including Arizona, which had an estimated $247 million more cash on hand than expected as of last month. A Balanced Budget Amendment almost passed Congress in 1995 but failed by one vote in the Senate. At that time, the national debt was $4.9 trillion. Today, the national debt has ballooned to over $20 trillion.

The Balanced Budget Amendment ensures that total spending will not exceed total revenue, prevents the government from increasing public debt, and requires that total spending not exceed 20% of GDP. The amendment also requires a true majority in both the House and the Senate to pass a tax increase, along with a three-fifths supermajority to raise the debt limit.