Fiscal Commission Act

The Fiscal Commission Act would establish a 16-member bipartisan commission in Congress to identify policies that improve the long-term fiscal condition of the federal government, including reducing the debt and deficit, achieving a public debt-to-GDP ratio of no more than 100% by fiscal year 2039, and ensuring trust fund solvency for at least 75 years. The commission, composed of equal appointments from Senate and House majority and minority leaders—including outside experts—would develop recommendations on discretionary appropriations, direct spending, and revenues, and submit an approved report and legislative language to the President and congressional leaders after a public awareness…

AI summary · The lawmakers haven’t published an official summary of this bill yet, so 52 wrote this one from the bill’s text.