Louisiana House Bill HCR70

Louisiana 2014 Regular Session

• Introduced: 4/8/14
• Refer: 4/9/14
• Report Pass: 4/23/14
• Engrossed: 4/29/14
• Refer: 4/30/14
• Report Pass: 5/14/14
• Passed: 5/19/14

Caption

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.