Update on Federal Spending Developments

Information about recent administration and Congressional federal spending developments

The House of Representatives (Jan. 3 file photo).
U.S. House of Representatives

Yesterday, the House of Representatives voted on a balanced budget amendment (H.J. Res. 2) that would amend the U.S. Constitution to prohibit annual federal outlays (spending) from exceeding revenue, unless Congress were to approve exceptions by a significant threshold (a 3/5 vote in each chamber). The amendment would also require the President to submit a fully balanced budget request to Congress annually. As designed, the measure would dramatically clamp down on funding for federal programs, and as an amendment to the Constitution must also be ratified by 3/4 of the states, following congressional passage. However, the amendment failed to garner the required 2/3 votes (233-184) in the House, so will not advance to the Senate for further consideration. Continue reading “Update on Federal Spending Developments”