Cutting Spending Would Could Block
Investments in Housing
The National Low Income Housing Coalition (NLIHC) joined 268 national organizations in sending a letter to Congress opposing a balanced budget amendment to the U.S. Constitution.
“A balanced budget constitutional amendment would damage the economy, not strengthen it. Demanding that policymakers cut spending and/or raise taxes even when the economy slows is the opposite of what is needed to stabilize a weak economy and avert recessions. Such steps would risk tipping a faltering economy into recession or worsening an ongoing downturn, costing large numbers of jobs while blocking worthy investments to stimulate jobs and growth and address urgent needs in infrastructure and other areas.”
The letter states.