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S4012119th CongressWALLET

Fiscal Commission Act

Sponsored By: Senator John Curtis

Introduced

Summary

bipartisan Fiscal Commission would be created to identify laws that reduce the long-term national debt and to push those recommendations through Congress more quickly. It pairs public education about fiscal risks with a requirement to draft legislative language and CBO estimates for any proposals.

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  • For Congress and lawmakers: It would create a 16-member commission with co-chairs from opposite parties and tight rules for implementing bills. Those bills would face no amendments, a 2-hour House debate limit, and constrained Senate procedures including a 10-hour cap on veto consideration.
  • For taxpayers and future generations: The commission would seek policies to lower deficits and reach a sustainable debt path, targeting a debt-to-GDP ratio at or below 100 percent by fiscal year 2039 and trust fund solvency for at least 75 years.
  • For experts, staff, and the public: The commission must hold at least 6 hearings, may use outside experts who can participate but not vote, require CBO estimates at least 48 hours before votes, and run a public awareness campaign within 30 days after the report.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 0 benefits, 0 costs, 2 mixed.

Fast-track Commission bills to Congress

If enacted, this would create expedited rules for implementing bills the Commission approves. An implementing bill would consist only of the Commission's approved text and could not be amended in either chamber. In the House, the majority leader would introduce the bill on the third legislative day after submission and committees would report within five legislative days or be discharged. Debate on an implementing bill would be limited and points of order would be waived. In the Senate, the bill would be placed on the calendar and a non-debatable motion to proceed would be in order within two session days. If the President vetoed an implementing bill, Senate consideration of the veto message would be limited to ten hours.

New Fiscal Commission to review debt

If enacted, this bill would create a 16-member Fiscal Commission 60 days after enactment. The Commission would review discretionary appropriations, direct (mandatory) spending, and federal revenues and recommend changes. It would aim to keep public debt at or below 100% of GDP by fiscal year 2039. It would aim to make federal trust funds solvent for at least 75 years. The Senate would fund the Commission from Senate accounts chosen by the Senate Appropriations Committee. The Commission could also issue interim reports on macroeconomic and budget effects before its final report.

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Sponsors & CoSponsors

Sponsor

John Curtis

UT • R

Cosponsors

  • Angus King

    ME • I

    Sponsored 3/5/2026

  • Sen. Tillis, Thomas [R-NC]

    NC • R

    Sponsored 3/5/2026

  • Sen. Coons, Christopher A. [D-DE]

    DE • D

    Sponsored 3/5/2026

  • Sen. Young, Todd [R-IN]

    IN • R

    Sponsored 3/5/2026

  • Sen. Shaheen, Jeanne [D-NH]

    NH • D

    Sponsored 3/5/2026

  • Sen. Cassidy, Bill [R-LA]

    LA • R

    Sponsored 3/5/2026

  • Sen. Kaine, Tim [D-VA]

    VA • D

    Sponsored 3/5/2026

  • Kevin Cramer

    ND • R

    Sponsored 3/5/2026

  • Sen. Warner, Mark R. [D-VA]

    VA • D

    Sponsored 3/5/2026

Roll Call Votes

No roll call votes available for this bill.

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