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Huizenga Introduces The Fiscal Commission Act of 2023

Last night, Congressman Bill Huizenga (R-MI) introduced the Fiscal Commission Act of 2023. This bipartisan fiscal commission will propose recommendations to significantly improve our nation’s medium and long-term fiscal trajectory. The Commission will consist of Members of Congress as well as individuals from the private sector. This legislation requires both the House and the Senate to finally face our national debt before the end of the 118th Congress.

“The only way to get our nation’s fiscal house in order is for Congress to face reality and address the unsustainable trajectory of our national debt,” said Congressman Bill Huizenga. “For too long, Congress has kicked the can down the road and not made the decisions necessary to secure our nation’s fiscal future for the next generation of Americans. The Fiscal Commission Act of 2023 requires Congress to vote on serious proposals from this bipartisan commission that will significantly improve the financial health of our nation.”

Congressman Huizenga worked across the aisle with his fellow Bipartisan Fiscal Forum Co-Chair, Congressman Scott Peters (D-CA), to push for the creation of a fiscal commission. Congressman Peters is an original cosponsor of this bipartisan bill.

In addition to Congressman Peters, the Fiscal Commission Act of 2023 is cosponsored by Representatives Tom Cole (R-OK), Brad Schneider (D-IL), Victoria Spartz (R-IN), Ed Case (D-HI), William Timmons (R-SC), Chrissy Houlahan (D-PA), Adrian Smith (R-NE), Ami Bera (D-CA), David Schweikert (R-AZ), Jimmy Panetta (D-CA), Blake Moore (R-UT), Jared Golden (D-ME), and Cory Mills (R-FL).

Details on the Fiscal Commission

  • Commission Structure: The Fiscal Commission will consist of 16 members. The Speaker of the House, the House Minority Leader, the Senate Majority Leader, and the Senate Minority Leader will each select and designate four members to the Commission. Of the selected commissioners, three will be members from their respective chambers and one will be an individual or expert from the private sector.
    • The Commission shall be established, and members appointed within 60 days of enactment. The Commission will vote on its recommendations shortly after the 2024 election and no later than November 15th.  The recommendations are then sent to the House and Senate which are required to vote on the proposal.
  • Commission Function: The Commission will identify policies to improve the fiscal situation in the medium term and to achieve a sustainable debt-to-GDP ratio in the long term. For any recommendations related to federal programs for which a federal trust fund exists, solvency must be improved for decades to come.
    • The Commission shall propose recommendations designed to balance the budget at the earliest reasonable date, including at minimum stabilizing the debt-to-GDP ratio at or below 100% within 10 years.
    • The Commission shall propose recommendations that meaningfully improve the long-term fiscal outlook, including changes to address the growth of direct spending and the gap between revenues and expenditures.
  • Commission Voting Process: Recommendations require a simple majority vote within the Commission, provided that the majority is made up of at least 3 members of each party.
  • Expedited Votes in Congress: The legislation requires each chamber to vote on the Commission’s final proposal without amendment or delay.
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