J.D. Hayworth on Budget & Economy Former Republican Representative (AZ-5, 1995-2007)

Voted YES on restricting bankruptcy rules.

Allow $3 on 1040 form to pay off National Debt.

OFFICIAL CONGRESSIONAL SUMMARY: Amends the Internal Revenue Code to permit an individual to designate three dollars on his or her income tax return (six dollars on a joint return) to be used to reduce the public debt of the United States.

SPONSOR'S INTRODUCTORY STATEMENT: Pres. Eisenhower apparently once said that he believed that there could be no surplus as long as our Nation was in debt. I come from that school of thought, and yet that is not exactly where we are right now in Washington.

Where we are right now is debating whether or not 90 percent or 50 percent, or some number in between, of these projected future surpluses should be allocated to the debt. What struck me is the fact that really more than just the Congress should be involved in that debate. It is for that reason that I introduce today the Taxpayers' Choice Debt Reduction Act.

What this bill would do would be to simply take the 1040, the tax return as we now know it. And right now, we can send $3 to the presidential campaign. This would create another box wherein we could send 3 bucks to debt reduction. That is not enough money to change our national debt, but it is enough money to make a small step in an important debate that we all ought to be a part of.

LEGISLATIVE OUTCOME: Referred to the House Committee on Ways and Means; never called for a House vote.

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.

Demand a Balanced Budget amendment.

The Contract from America, clause 3. Demand a Balanced Budget:

Begin the Constitutional amendment process to require a balanced budget with a two-thirds majority needed for any tax hike.

Limit federal spending growth to per-capita inflation rate.

The Contract from America, clause 6. End Runaway Government Spending:

Impose a statutory cap limiting the annual growth in total federal spending to the sum of the inflation rate plus the percentage of population growth.

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.