HR3289-119

What This Bill Does

The Fiscal Commission Act creates a temporary bipartisan commission charged with improving the federal government's long-term fiscal condition. The commission must identify policies to reduce debt and deficits, reach a public-debt-to-GDP ratio of not more than 100 percent by fiscal 2039, and improve solvency of federal trust-fund programs for at least 75 years. It has 16 members: three senators and one outside expert appointed by each Senate party leader, and three House members and one outside expert appointed by each House party leader. Only congressional members vote; outside experts are nonvoting. Final report and legislative language require a majority that includes at least two Republican-appointed and two Democratic-appointed members. The commission must vote between November 4 and November 13, 2026, unless extended to April 13, 2027, and CBO estimates must be available 48 hours before the vote. It must hold at least six hearings, including field hearings, executive branch testimony, and congressional testimony, conduct a national public education campaign, and publish votes and reports. Approved implementing bills receive expedited consideration: committee discharge after five legislative days in the House, no amendments, waived points of order, limited debate, Senate fast-track motion to proceed, and veto-message debate limits. Funding comes equally from Senate contingent funds and House accounts.

Who Benefits and How

Debt reduction advocates benefit because the commission creates a privileged vehicle for long-term deficit, debt, and trust-fund recommendations. Congressional leaders benefit because each party's House and Senate leaders appoint members and outside experts. Social Security and Medicare solvency advocates benefit because the commission must address federal trust funds for at least 75 years. CBO analysts benefit from a formal role estimating legislative language and long-term fiscal effects before the final vote.

Who Bears the Burden and How

Federal benefit program stakeholders face risk because the commission can recommend direct spending and trust-fund solvency changes. Taxpayer groups face risk because the commission can recommend revenue changes as part of its fiscal package. House committees and Senate committees lose ordinary amendment and delay leverage once an approved implementing bill receives expedited procedures. Federal agency staff must provide technical assistance and consultation when requested by the commission co-chairs.

Key Provisions

• Establishes a 16-member bipartisan Fiscal Commission with voting congressional members and nonvoting outside experts.
• Requires recommendations to improve debt, deficit, debt-to-GDP, and 75-year trust-fund solvency outcomes.
• Requires bipartisan approval, CBO estimates, public hearings, vote disclosure, and a national fiscal education campaign.
• Provides expedited no-amendment House and Senate procedures for implementing bills approved by the commission.