Here’s an issue to definitely keep your eyes on.
The good news is, the U.S. House will reportedly take up a balanced budget amendment to the Constitution next week. In this time of runaway spending and ballooning deficits, this is good news indeed.
The bad news is, the version of the bill most likely to come to the floor would enable Congress to raise taxes by a simple majority vote instead of the 2/3 requirement sought by fiscal conservatives — which could result in balancing the budget through tax hikes instead of through spending cuts.
Learn more about it at The Hill.
To amend the Constitution, it takes a two-thirds vote in both House and Senate and ratification by three-fourths (38) of the states. At least 48 Democratic votes are needed to get the required two-thirds margin in the GOP-controlled House.
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