Dr. William A. Niskanen’s Proposal for a Debt Control and Fiscal Responsibility Amendment to the U.S. Constitution
February 6, 2015
Substantial majorities of the American people, of all political persuasions, support a balanced budget amendment of some kind. With large majorities of Republicans controlling both Houses of the 114th Congress, there is likely to be a revival of interest among backbenchers and even some GOP leaders in a balanced-budget/tax-limitation amendment (BBA/TLA) to the U.S. Constitution. In the short time since the 114th Congress convened, there already have been at least eight different BBA/TLAs introduced; seven in the House and one in the Senate.
Additionally, at least two bills have been introduced to establish enforceable statutory caps on federal spending and to align federal spending with average revenues at 18 percent of GDP (See Appendix I).