COLUMBIA, S.C. (WCBD) – Senator Lindsey Graham (R-SC) on Tuesday will ask South Carolinians to support an amendment to the United States Constitution designed to rein in the nation’s spending.

Graham will host a press conference in Columbia urging South Carolina to join the 27 states calling for an Article V convention.

Under Article V of the United States Constitution, Congress must call a Constitutional convention to consider an amendment if a) two-thirds of both houses or b) two-thirds of the states call for it.

The proposed amendment seeks to “force annual balanced federal budgets,” according to Senator Mike Crapo (R-ID), who is a co-sponsor of the amendment.

If ratified, it would:

  • Require the President to submit a balanced budget;
  • Require Congress to pass a balanced budget;
  • Restrict federal spending to 18 percent of the Gross Domestic Product;
  • Require two-thirds majority votes in the House and Senate to raise taxes; and
  • Require a new three-fifths majority vote in both houses of Congress to raise the debt limit. 

Ratification would require support from 3/4 of the state legislatures.

The last amendment to the Constitution was the 27th — made in 1992 — which pertains to compensation for members of Congress.