Frustrated by the months of non-stop budget fights, Senate Republicans are set to mount a fiscal counteroffensive this week with the reintroduction of a balanced-budget amendment.
Senate minority leader Mitch McConnell (R., Ky.) and minority whip John Cornyn (R., Texas) are leading the effort. They hope to unveil a bill by Thursday with unanimous Republican support.
Behind the scenes, sources say McConnell and Cornyn are eager to shift the party away from inside-the-Beltway drama and make a more national, coherent case about the GOP’s fiscal principles.
Senate insiders say McConnell and Cornyn have already lined up almost all Republicans behind the plan, but the whip process is ongoing.
House Republican aides say most conservatives in the lower chamber are going to support the Senate’s plan. Speeches and media appearances are being arranged for later this week.
House leaders are generally supportive. On Monday, former GOP vice-presidential candidate Paul Ryan endorsed the idea on Twitter.
According to a Senate GOP aide, the legislation would cap federal spending at 18 percent of GDP. It would also require a supermajority for tax hikes and debt-limit increases.