LANSING, Mich. — Senator Margaret O’Brien voted Thursday to approve legislation that would officially petition Congress to call a constitutional convention for a federal balanced budget amendment (BBA).
“Leadership and fiscal responsibility starts with a balanced budget,” said O’Brien, R-Portage. “Michigan’s Constitution requires an annual balanced budget, and it is time we demand the same out of Washington D.C.”
Senate Bill 306 enters Michigan into an interstate compact to petition Congress to take the necessary steps toward passing a BBA to the U.S. Constitution. Once 38 states — three-fourths of the state legislatures — join the compact, they will then petition Congress to refer the BBA vote to the states for ratification by a three-fourths vote under Article V of the U.S. Constitution.
The national debt is currently $18.2 trillion. By 2019, the federal debt is estimated to surpass $21 trillion.
SB 306 now heads to the Michigan House of Representatives for consideration.