Patsy T. Mink: “I rise in support of the substitute offered by Representatives Robert Wise, David Price, Earl Pomeroy, Elizabeth Furse…”

“I rise in support of the substitute offered by Representatives Robert Wise, David Price, Earl Pomeroy, Elizabeth Furse, Leslie Byrne, and Anna Eshoo to House Joint Resolution 103, the Balanced Budget Constitutional Amendment introduced by our colleague, Representative Charles Stenholm. Through the ongoing debate on the balanced budget amendment, many have argued in support of the Stenholm amendment by noting that the Federal Government must balance its budget just as States with balanced budget requirements are compelled to. It is precisely because I agree with this argument that I oppose the Stenholm amendment and support the Wise-Price-Pomeroy-Furse-Byrne-Eshoo substitute. Unlike most States with balanced budget requirements that distinguish between their operating and capital requirements, the Stenholm amendment fails to distinguish between the Federal Government's day-to-day and long-term budgetary requirements. In failing to do so, the Stenholm amendment makes it difficult for the Federal Government to invest in those projects that are essential to promoting and ensuring economic growth.”