Since the state budgeting process occurs under different constitutional arrangements and laws, the conclusions of the federal deficit study do not overrule any current state League positions on state budgeting processes, nor can they be used at the state level without separate state League study and member agreement on the subjects.The Funding of Entitlements position enables the LWVUS to support efforts to expand participation in the Social Security system (including participation by state and local government employees and other excluded groups).The deficit position enabled the League to oppose a balanced budget constitutional amendment in March 1986.
(b) The State, units of local government and school districts shall incur obligations for payment or make payments from public funds only as authorized by law or ordinance.(c) Reports and records of the obligation, receipt and use of public funds of the State, units of local government and school districts are public records available for inspection by the public according to law. STATE FINANCE (a) The Governor shall prepare and submit to the General Assembly, at a time prescribed by law, a State budget for the ensuing fiscal year.(b) The Auditor General shall conduct the audit of public funds of the State.He shall make additional reports and investigations as directed by the General Assembly.Recently, due to the federal government’s habitual failure to balance the budget that has produced a gross federal debt of nearly trillion, efforts to secure a constitutional rule to require a balanced federal budget have intensified.
A balanced federal budget is a bipartisan goal of many Members of Congress.As part of its strong legislative campaign, the League opposed a value-added tax as regressive.The League supported taxing capital gains as ordinary income and urged the removal of loopholes in the tax law.Background: At the beginning of the 115 Congress, Chairman Goodlatte introduced two Constitutional amendments for a balanced budget: H. This resolution also places a cap on annual federal spending and requires a three-fifths supermajority vote to increase the debt limit or raise taxes. GENERAL PROVISIONS (a) Public funds, property or credit shall be used only for public purposes. The federal budget deficit and the national debt have become two of America’s most persistent political issues.