MO SB433

Missouri would join an interstate compact with other states to call an Article V convention for proposing a federal Balanced Budget Amendment requiring total U.S. government outlays not exceed total receipts

The proposed amendment would cap federal debt at 105% of outstanding debt at ratification, with any increases requiring approval by a simple majority of state legislatures within 60 days

New or increased federal taxes would require two-thirds roll call vote of both houses of Congress, with the President required to impound spending when debt exceeds 98% of the authorized limit

Missouri would appoint three sitting General Assembly members as convention delegates (one each by the Speaker, Senate President Pro Tem, and minority leaders jointly), limited to voting only on the specified Balanced Budget Amendment

The compact terminates automatically if the amendment is not ratified within 7 years of the first state joining; withdrawal is prohibited once three-fourths of states become members