–Senate Rejects Democratic, Republican Amendments
–Senate Rejections Follow Amendments’ Failure In House This Fall
By John Shaw
WASHINGTON (MNI) – With little fanfare and after only a tepid and
lackluster debate, the Senate Wednesday rejected two balanced budget
constitutional amendment alternatives.
The Senate first rejected a balanced budget amendment by Democratic
Senator Mark Udall on a 21 to 79 vote. Sixty votes were required to
approve the amendment.
Udall’s amendment would require a balanced budget unless
three-fifths of the House and Senate voted to allow a budget deficit.
Social Security would be exempt from balanced budget calculations.
The Senate then voted to reject an alternative by Republican
Senator Orrin Hatch. It would cap federal spending at 18% of gross
domestic spending and would require a two-thirds super-majority to
increase taxes. It would have also required a three-fifths majority in
Congress to increase the debt ceiling.
The Senate’s vote on the Hatch amendment was 47 to 53. Sixty votes
were required for Senate approval.
Several weeks ago, the House rejected a balanced budget
constitutional amendment.
The House’s version of a balanced budget amendment required that
federal outlays equal receipts. Waiving this balanced budget requirement
would require a three-fifths vote of each chamber. It would also require
three-fifth votes by Congress to increase the debt ceiling.
Even if a balanced budget constitutional amendment had passed the
House and Senate in identical form, it would need to be ratified by
three-quarters of the states.
Congressional votes on the balanced budget amendment were required
by this past summer’s debt ceiling agreement.
** Market News International Washington Bureau: (202) 371-2121 **
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