balanced budget

An attempt to Wyoming to the list of states pushing for a balanced budget constitutional amendment has failed. 

The Senate handily rejected the measure due to fears that with only three congressional members, Wyoming would not have equal footing with other states.

Senator Phil Nicholas also had grave concerns that a balanced budget amendment could entice Congress to balance the federal budget by stealing Wyoming’s mineral wealth. 

Baggs Republican Larry Hicks says that was no reason to vote the measure down.

Wyoming Senators Oppose Budget Deal

Dec 17, 2013

Wyoming’s two U-S Senators plan to vote against a budget compromise that will be taken up by the Senate on Wednesday.  Senator Mike Enzi spoke out against the deal on the Senate floor.  Enzi says it cuts too little...if anything.

“We talk about how we have reduced the deficit.  Reduced the deficit?  Yeah, that means we used to be overspending a trillion dollars a year and now we are only overspending $500 billion, which is half a trillion.  That’s still overspending.”

Wyoming lawmakers are concerned with a provision in the bipartisan budget agreement that would cost the state money for mineral development.

Wyoming stands to lose around twenty million dollars annually from the budget deal that overwhelmingly passed the House. It includes a provision that makes permanent a law that charges states like Wyoming for costs associated with their mineral leases. The state hasn’t received that money since 2008, but Republican Congresswoman Cynthia Lummis and other officials thought that was just temporary. 

Sen. Mike Enzi is supporting the idea of a constitutional amendment requiring a balanced U.S. budget.

He's co-sponsoring a bill that would make a balanced budget a constitutional requirement.

Enzi says it's the only solution to solving the nation's fiscal mess.

The Balanced Budget Amendment would restrict Congress from spending more than federal revenue in any fiscal year and would limit spending to 18 percent of the gross national product.