Applies to congress under U.S. Const. Art. V to call a convention of the states to propose a U.S. constitutional amendment to require a balanced budget
Impact
The passage of HCR70 could lead to significant changes in federal fiscal policy if a constitutional amendment is ultimately adopted. By requiring a balanced budget, the amendment would compel Congress to exercise greater fiscal discipline, impacting how government funds are allocated and potentially limiting the government's ability to engage in deficit spending. Proponents believe this will facilitate responsible governance and promote economic stability, while critics argue it may overly restrict necessary government support during economic downturns.
Summary
HCR70 is a House Concurrent Resolution from Louisiana applying to Congress for a convention to propose an amendment to the United States Constitution. The primary aim of HCR70 is to impose a requirement for a balanced federal budget, whereby federal outlays cannot exceed estimated federal revenues unless a national emergency is declared. This resolution seeks to address the growing concern over the federal budget deficit and national debt, asserting that unchecked federal spending jeopardizes the financial security of current and future generations of Americans.
Sentiment
Public and political sentiment surrounding HCR70 appears supportive in the context of fiscal conservatism, reflecting a desire for stricter control over federal expenditures. The resolution received a unanimous vote in the Senate, indicating bipartisan support within the legislative body. However, the broader implications of a balanced budget amendment remain contentious, as critics worry about the potential for reduced government services and increased taxes during economic crises.
Contention
A notable point of contention regarding HCR70 stems from the debate over the practicality and consequences of enforcing a balanced budget at the federal level. Opponents caution that a rigid requirement could hinder the federal government's response capabilities in times of economic hardship, potentially exacerbating recessions or natural disasters. The resolution's anticipation of aggregating applications from other states indicates a strategic effort to garner sufficient support for calling a constitutional convention, emphasizing a diverse yet unified approach to this significant fiscal measure.
Applies to congress to call a convention pursuant to Article V of the U.S. Constitution to propose a balanced budget amendment (RE SEE FISC NOTE GF EX)
JOINT RESOLUTION MAKING APPLICATION TO THE CONGRESS OF THE UNITED STATES CALLING A CONSTITUTIONAL CONVENTION UNDER ARTICLE V OF THE UNITED STATES CONSTITUTION LIMITED TO PROPOSING AN AMENDMENT TO THE UNITED STATES CONSTITUTION TO REQUIRE A BALANCED FEDERAL BUDGET
Applying to the Congress of the United States to call a convention to propose an amendment to the United States Constitution to require a balanced federal budget.
Applying to the Congress of the United States to call a convention to propose an amendment to the United States Constitution to require a balanced federal budget.
Applying to the Congress of the United States to call a convention to propose an amendment to the United States Constitution to require a balanced federal budget.
Applying to the Congress of the United States to call a convention under Article V of the United States Constitution for the limited purpose of proposing an amendment to the constitution to provide for a federal balanced budget.
Applying to the Congress of the United States to call a convention under Article V of the United States Constitution for the limited purpose of proposing an amendment to the constitution to provide for a federal balanced budget.
Applies to congress to call a convention pursuant to Article V of the U.S. Constitution to propose an amendment regarding a requirement to reduce the federal debt through annual appropriations
Urging the Congress of the United States to propose and submit to the states for ratification a federal balanced budget amendment to the Constitution of the United States and, in the event that Congress does not submit such an amendment on or before December 31, 2011, applying to Congress to call a convention for the specific and exclusive purpose of proposing an amendment to that constitution to provide, in the absence of a national emergency and on a two-thirds vote of Congress, for a federal balanced budget and requesting that the legislatures of each of the several states that compose the United States apply to Congress to call a convention to propose such an amendment.
Proposes temporary constitutional amendment allowing State constitutional convention convened to reform system of property taxation to propose statutory changes.
Proposes temporary constitutional amendment allowing State constitutional convention convened to reform system of property taxation to propose statutory changes.