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Establishing Fiscal Commission: Plan to Reduce US Debt and Secure Trust Funds

This act establishes a special, bipartisan Fiscal Commission tasked with creating a plan to significantly improve federal finances, including reducing public debt and ensuring the solvency of Federal programs with trust funds for 75 years. The most critical consequence for citizens is that the Commission's final proposals, which may involve changes to spending or revenues, will be fast-tracked through Congress without the possibility of amendments.
Key points
A 16-member Fiscal Commission (politicians and experts) is created to identify policies to reduce the public debt to not more than 100% of GDP by fiscal year 2039.
The Commission must propose recommendations addressing discretionary appropriations, direct spending, and revenues to improve the long-term financial health of the government.
The Commission's implementing bill requires majority approval within the Commission and is then voted on by Congress under an expedited procedure that prohibits any amendments.
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Additional Information
Print number: 118_S_3262
Sponsor: Sen. Manchin, Joe, III [D-WV]
Process start date: 2023-11-08
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OFFICIAL LEGAL TITLE

Fiscal Stability Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_3262.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-11-08.

What are the main provisions?

Key points include:

  • A 16-member Fiscal Commission (politicians and experts) is created to identify policies to reduce the public debt to not more than 100% of GDP by fiscal year 2039.
  • The Commission must propose recommendations addressing discretionary appropriations, direct spending, and revenues to improve the long-term financial health of the government.
  • The Commission's implementing bill requires majority approval within the Commission and is then voted on by Congress under an expedited procedure that prohibits any amendments.
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 Sen. Manchin, Joe, III [D-WV].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

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

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