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Weekly Column: Testifying on the Fiscal Commission Act

Last week, I testified before the House Budget Committee on my Fiscal Commission Act. I introduced this bipartisan bill in September as a way to get our nation's fiscal house in order.

With our national debt now at $33.8 trillion and climbing, just the interest we pay on the debt already exceeds everything the federal government spends on children, and within 3 years, is projected to eclipse our entire defense budget.

I’m not interested in a partisan food fight. I want results that improve our nation's fiscal future, protect our seniors, and current beneficiaries, and preserve Social Security and Medicare for future generations.

Testifying alongside me was my colleague Congressman Scott Peters (D-CA), who is the lead Democrat cosponsor of the Fiscal Commission Act.

During the hearing, Representative Peters laid out the importance of acting in a timely manner to preserve Social Security and protect the seniors that rely on it.

If the status quo holds and Congress does nothing, simply put, it will result in a cut of benefits for those who need them most. The best path forward, in fact the only path forward, in my opinion, is a bipartisan, bicameral solution such as the Fiscal Commission Act.

Our proposal creates a 16-member, equally bipartisan, bicameral fiscal commission charged with crafting a package of recommendations to improve the fiscal situation in the medium term, achieve a sustainable debt-to-GDP ratio in the long term, and ensure the solvency of our trust funds. No stone can be, or hopefully will be, left unturned. The legislation requires each chamber to vote on the Commission’s final proposal without amendment or delay during the 2024 lame duck.

Let’s be clear, I don’t expect that this will be an easy vote for any of us in Congress. Yet, I believe a fiscal commission is the most practical and immediate way Congress breaks the status quo.

If you need assistance navigating a federal agency, please contact my office in Holland at (616) 251-6741 or in Portage at (269) 569-8595.

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