Larry Pressler: “Since 1981, there have been eight balanced budget amendment measures that have been approved by the Senate Judiciary…”

“Since 1981, there have been eight balanced budget amendment measures that have been approved by the Senate Judiciary Committee and reported to the Senate. Three of these measures have received floor consideration. In 1982, the Senate passed Senate Joint Resolution 58 by a 69-to-31 vote. This marked the first time either House of Congress had approved such a measure. Although a substantial majority of the House of Representatives voted in favor of a counterpart of Senate Joint Resolution 58, the 236-to-187 margin fell short of the necessary two-thirds vote. In 1986, the Senate rejected a balanced budget amendment (S.J. Res. 225) by a vote of 66-to-34, thus failing to achieve the necessary two-thirds majority by a single vote. Then during 1994, the Senate defeated Senate Joint Resolution 41 by a vote of 63-to-37, 4 votes short of the two-thirds necessary for adoption. Since coming to the Senate in 1979, I consistently have cosponsored and supported balanced budget amendment measures, and have voted for adoption of these measures at each and every opportunity. I strongly support the proposed amendment before us which was approved by the House of Representatives. With our vote today, the Senate will choose between a failed status quo or a new road toward true fiscal accountability. Mr. President, there is compelling need for a balanced budget amendment to the Constitution.”