Gluesenkamp Perez, Bacon Introduce Amendment to Balance Budget

WASHINGTON, D.C. – Last week, Rep. Marie Gluesenkamp Perez (WA-03) and Rep. Don Bacon (NE-02) introduced a bipartisan Constitutional amendment that would require the President and Congress to deliver balanced budgets every year by preventing the federal government from spending more money than it receives in tax revenue. 

Earlier this month, the United States government’s debt surpassed $35 trillion for the first time in history. Under this amendment, any appropriations legislation that adds to the national debt must pass with a three-fifths majority vote from both the Senate and the House of Representatives. It also requires that the President’s proposed budgets be balanced.

The amendment includes provisions that protect essential safety nets such as Social Security and Medicare payments, as well as maintain existing debt payments to avoid default. 

“As our national debt surpasses $35 trillion and folks across Southwest Washington face the impacts of high costs, our federal government needs to reign in our deficit, balance our budgets, and be responsible stewards of taxpayer dollars. We haven’t had a balanced budget in more than 20 years, and it’s time for Congress to end this reckless cycle,” said Rep. Gluesenkamp Perez. “Our bipartisan balanced budget amendment will make it harder for the federal government to spend more than it brings in, while protecting vital programs our communities depend on. It’s how we get back on track to cut government waste, reduce our deficit, and avoid passing more debt onto our children.”

“Families across our nation spend within their means and keep a budget, especially during these challenging times. The federal government should also have to maintain a balanced budget,” said Rep. Bacon. “This legislation would require the President’s proposed budgets to be balanced while protecting Social Security and Medicare.”

In May, Rep. Gluesenkamp Perez was recognized as a 2024 Fiscal Hero for leading bipartisan efforts to take on the national debt, and she has repeatedly urged her colleagues to work toward fiscal stability. Earlier this year, she introduced the bipartisan Comprehensive Congressional Budget Act to create a more efficient and effective process for Congress to determine our nation’s spending and revenue.

Full text of the amendment is available here.