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Establishing Fiscal Commission: Planning Debt Reduction and Federal Spending Reform.

This Act establishes a bipartisan Fiscal Commission tasked with creating a plan to improve the nation's financial health, stabilize the national debt, and ensure the solvency of federal trust funds (like Social Security) for at least 75 years. Citizens should monitor the Commission's work, as its recommendations could lead to significant, fast-tracked changes in federal programs and the tax system after November 2024. The legislative proposal approved by the Commission cannot be amended in Congress.
Key points
A 16-member Commission (Congress members and experts) is created to propose recommendations aimed at balancing the budget and stabilizing the debt-to-GDP ratio within 10 years.
The Commission must propose changes to federal programs to improve their solvency, potentially impacting future retirement and healthcare benefits.
Any legislative proposal approved by the Commission (requiring bipartisan support) will receive expedited consideration in Congress and cannot be amended.
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Expired
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Additional Information
Print number: 118_HR_5779
Sponsor: Rep. Huizenga, Bill [R-MI-4]
Process start date: 2023-09-28
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Fiscal Commission Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_5779.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-09-28.

What are the main provisions?

Key points include:

  • A 16-member Commission (Congress members and experts) is created to propose recommendations aimed at balancing the budget and stabilizing the debt-to-GDP ratio within 10 years.
  • The Commission must propose changes to federal programs to improve their solvency, potentially impacting future retirement and healthcare benefits.
  • Any legislative proposal approved by the Commission (requiring bipartisan support) will receive expedited consideration in Congress and cannot be amended.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Huizenga, Bill [R-MI-4].

What is the latest detailed status?

The latest detailed status is: Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 22 - 12.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Economy Benefits Taxes