House plans vote on balanced budget amendment
Tue, 26 Jul 2011 14:51:59 GMT —
ANDREW TAYLOR, Associated Press
WASHINGTON (AP) " House GOP leaders are planning a vote Thursday on a proposed amendment to the Constitution requiring a balanced budget.
The vote comes as Congress struggles to pass legislation increasing the government's borrowing cap to avoid a U.S. default.
Many tea party-backed lawmakers are insisting on passage of a balanced budget amendment before they consider voting for an increase in the debt limit.
But the House effort appears unlikely to win the two-thirds margin required to pass.
The House passed a balanced budget amendment in 1995 but it fell just short in the Senate.
Republicans are backing a version of the amendment that's far stricter than the 1995 version. It would require a two-thirds vote by Congress to raise taxes and would force major cuts to Medicare and Social Security.
Copyright 2011 The Associated Press.