Nick Smith on Budget & Economy Former Republican Representative (MI-7)

Supports Balanced Budget Amendment & on-budget accounting.

The Republican Liberty Caucus endorses the following [among its] principles:
1. There should be an amendment to the US Constitution to require a balanced budget, provided it includes a supermajority requirement to raise taxes and provided it does not empower the judiciary to unilaterally raise taxes.
2. Honest accounting dictates that all federal expenditures should be on budget.
3. Each budget should be derived based upon the justification for and needs of each program, with no program being either budgeted for or increased automatically.

Supports balanced budget amendment & line item veto.

[As part of the Contract with America, within 100 days we pledge to bring to the House Floor the following bill]:

The Fiscal Responsibility Act:
A balanced budget/tax limitation amendment and a legislative line-item veto to restore fiscal responsibility to an out-of-control Congress, requiring them to live under the same budget constraints as families and businesses.