John Cornyn: “I want to briefly draw attention to a resolution that the conference of Republican Senators and Senators-elect adopted…”

“I want to briefly draw attention to a resolution that the conference of Republican Senators and Senators-elect adopted yesterday, one that I think fits the times we are living in, one which has seen historic levels of Federal spending and debt and deficits, as well as unsustainable debt that will be inherited by our children and grandchildren, unless we take responsibility for it. This resolution, I think, would demonstrate the seriousness that we would have as a Congress to get our Nation's fiscal house in order. This resolution reads: It is Resolved by the United States Senate Republican conference: That a Balanced Budget Amendment to the United States Constitution is necessary to restore fiscal discipline to our Republic; That a Balanced Budget Amendment should require the President to submit to Congress a proposed budget prior to each fiscal year in which total federal spending does not exceed total federal revenue; That a Balanced Budget Amendment should include a requirement that a supermajority of both houses of Congress be necessary to increase taxes; That a Balanced Budget Amendment should include a limitation on total federal spending.”