State Representatives Kyle Koehler (R-Springfield) and Steve Hambley (R-Brunswick) today announced the introduction of House Bill 369, new legislation they are sponsoring together. If passed and signed into law, the bill would adopt the Compact for a Balanced Budget.
“While members of Congress have introduced similar measures and Balanced Budget Amendments that I have supported, it is time for the states to take the matter of our nation’s debt into their own hands,” said Rep. Koehler. “Together, we can come up with an innovative solution to our budgetary challenges.”
The Compact for a Balanced Budget utilizes an agreement among the states called an “interstate compact” and a congressional resolution to advance and ratify a balanced budget amendment to the United States Constitution with more efficiency and certainty. In this compact, 38 states must pass this legislation in order for it to be effective.
“Ohio can be a leader in the quest to find a workable constitutional solution to our escalating national debt,” Rep. Hambley stated. “I am happy to be working with Rep. Koehler on this approach to reigning in federal government spending and borrowing.”
The passage of this legislation would make Ohio the fifth state to join the compact. House Bill 369 was referred to the committee on Government Accountability and Oversight and will be scheduled for a hearing.