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December 14, 2011 – Today, Nebraska’s Senator Ben Nelson voted to add a balanced budget amendment to the U.S. Constitution to get Washington’s fiscal house in order. Nelson co-sponsored the legislation with Senator Mark Udall of Colorado.
“Nebraskans are justifiably frustrated with Washington’s continued struggles to cut spending, and I believe the time is right to employ a new tool to force fiscal discipline,” Senator Nelson said during his weekly conference call with members of the Nebraska news media.
“The balanced budget amendment I co-sponsored with Senator Mark Udall would force the tough decisions needed to get the debt under control. It’s a major step, adding an amendment to the Constitution, but one that would pay off by forcing Washington to live within a budget, just like every Nebraska family does.”
The Udall-Nelson balanced budget amendment did not pass in the U.S. Senate this morning.
Nelson pointed out that the Nebraska state Constitution requires the state budget to be balanced and, during eight years as governor, he worked with the Legislature to keep the state’s fiscal house in order.
“It’s time to bring Nebraska values to Washington budgeting,” Nelson said.
The Udall-Nelson balanced budget amendment states that federal spending could not exceed revenue. It would require the President to submit a budget each year that is balanced. In extreme circumstances, such as when the United States is at war, the amendment could be temporarily suspended.
This Udall-Nelson plan specifically sets aside Social Security benefits so they would not be subject to cuts. Unlike other proposed balanced budget amendments, this proposal would not force cuts to Medicare in order to balance the federal budget.
“This common-sense balanced budget amendment would help rein in spending, while making sure to protect Social Security and Medicare, so that we don’t balance the budget on the backs of seniors in Nebraska and across our country,” Nelson said.
Nelson voted against the alternative balanced budget plan offered by Senator Orrin Hatch this morning.
“The other plan, simply put, would force automatic and major cuts to Medicare. It could go so far as to jeopardize the government’s ability to even fund the Medicare program, which provides health care to more than 230,000 Nebraska seniors,” Nelson explained. “I cannot support breaking the promise we’ve made to Nebraska’s seniors to provide affordable health care. Balancing the budget should be just that, balanced. It shouldn’t rob the quality of life from older Nebraskans.”
The Udall-Nelson balanced budget amendment would:
- Require that the federal budget be balanced each year. Outlays may not exceed receipts.
- Require the President to submit a budget each year that is balanced.
- If the country is under extreme circumstances, such as a war declared by Congress, the amendment could temporarily be waived if three-fifths of both the U.S. Senate and U.S. House vote to waive it.
- Create a Social Security lockbox that protects the revenue and outlays of Social Security from any balanced budget requirement.
- Not require cuts to Medicare in order to bring the budget into balance.
- Prohibit Congress from creating new income tax breaks for people earning more than $1,000,000 (adjusted for inflation) annually, unless the federal budget is in surplus.
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