[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 4012 Introduced in Senate (IS)]
<DOC>
119th CONGRESS
2d Session
S. 4012
To establish a commission on fiscal responsibility and reform.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
March 5, 2026
Mr. Curtis (for himself, Mr. King, Mr. Tillis, Mr. Coons, Mr. Young,
Mrs. Shaheen, Mr. Cassidy, Mr. Kaine, Mr. Cramer, and Mr. Warner)
introduced the following bill; which was read twice and referred to the
Committee on Rules and Administration
_______________________________________________________________________
A BILL
To establish a commission on fiscal responsibility and reform.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Fiscal Commission Act''.
SEC. 2. DEFINITIONS.
In this Act:
(1) Co-chair.--The term ``co-chair'' means an individual
appointed to serve as a co-chair of the Fiscal Commission under
section 3(a)(3)(B)(i).
(2) Direct spending.--The term ``direct spending'' has the
meaning given that term in section 250(c) of the Balanced
Budget and Emergency Deficit Control Act of 1985 (2 U.S.C.
901(c)).
(3) Discretionary appropriations.--The term ``discretionary
appropriations'' has the meaning given that term in section
250(c) of the Balanced Budget and Emergency Deficit Control Act
of 1985 (2 U.S.C. 901(c)).
(4) Fiscal commission.--The term ``Fiscal Commission''
means the commission established under section 3(a)(1)(A).
(5) Implementing bill.--The term ``implementing bill''
means a bill or joint resolution consisting solely of the
legislative text the Fiscal Commission approves in accordance
with clauses (i) and (ii) of section 3(a)(2)(B) and submits
under clause (v) of such section.
(6) Outside expert.--The term ``outside expert'' means an
individual who is not an elected official or an officer or
employee of the Federal Government or of any State.
SEC. 3. ESTABLISHMENT OF FISCAL COMMISSION.
(a) Establishment of Fiscal Commission.--
(1) Establishment.--
(A) In general.--Effective on the date that is 60
days after the date of enactment of this Act, there is
established in Congress a Fiscal Commission.
(B) Goals.--The goals of the Commission shall be to
educate, and bring awareness to, the people of the
United States about the fiscal path the Nation is on,
including--
(i) educating the people of the United
States so they understand the fiscal state of
the Nation and the cost of not addressing such
state; and
(ii) informing the people of the United
States about the deterioration of the fiscal
health of the Nation, and that the debt poses a
significant risk to the long-term fiscal
sustainability of the Nation, with implications
for future generations.
(2) Duties.--
(A) Improve fiscal condition.--
(i) In general.--The Fiscal Commission
shall identify policies to--
(I) meaningfully improve the long-
term fiscal condition of the Federal
Government, including reducing the debt
and deficit;
(II) achieve a sustainable ratio of
the public debt of the Federal
Government to the gross domestic
product of the United States, which
shall be not more than 100 percent, by
fiscal year 2039; and
(III) improve the solvency, for a
period of at least 75 years, of trust
funds used to carry out Federal
programs.
(ii) Requirements.--In carrying out clause
(i), the Fiscal Commission shall propose
recommendations that meaningfully improve the
long-term fiscal condition of the Federal
Government, including--
(I) changes to address the current
levels of discretionary appropriations,
direct spending, and revenues and the
gap between current revenues and
expenditures of the Federal Government;
and
(II) changes to address the growth
of discretionary appropriations, direct
spending, and revenues and the gap
between the projected revenues and
expenditures of the Federal Government.
(iii) Recommendations of committees.--Not
later than 60 days after the date described in
paragraph (1), each committee of the Senate and
the House of Representatives may transmit to
the Fiscal Commission any recommendations of
the committee relating to changes in law to
further the duties described in clause (i) or
(ii).
(iv) Interim report.--The Fiscal Commission
may meet to consider, and vote on, an interim
report on--
(I) the findings and
recommendations of the Fiscal
Commission regarding the budgetary
effects of changes in economic output,
employment, capital stock, and other
macroeconomic variables resulting from
public and private investments;
(II) any findings or
recommendations of the Fiscal
Commission with respect to carrying out
the goals described in paragraph
(1)(B); and
(III) as the Fiscal Commission
determines appropriate, any findings
resulting from any hearing held or
evidence received by the Commission.
(B) Report identified policies.--
(i) In general.--Subject to paragraph
(4)(D)(ii)(II), not earlier than November 4,
2026, and, subject to clause (vi), not later
than November 13, 2026, the Fiscal Commission
shall meet to consider, and vote on--
(I) a report that contains--
(aa) a detailed statement
of--
(AA) the findings
and recommendations of
the Fiscal Commission
regarding the budgetary
effects of changes in
economic output,
employment, capital
stock, and other
macroeconomic variables
resulting from public
and private
investments;
(BB) any findings
or recommendations of
the Fiscal Commission
with respect to
carrying out the goals
described in paragraph
(1)(B); and
(CC) as the Fiscal
Commission determines
appropriate, any
findings resulting from
any hearing held or
evidence received by
the Commission;
(bb) a statement of the
economic and budgetary effects
of the legislative language
described in subclause (II);
and
(cc) the estimate of the
Congressional Budget Office
required under paragraph
(4)(D)(ii); and
(II) legislative language to carry
out the recommendations of the Fiscal
Commission in the report described in
subclause (I)(aa).
(ii) Approval of report and legislative
language.--A report and legislative language of
the Fiscal Commission under clause (i) shall
only be approved upon an affirmative vote of a
majority of the voting members of the Fiscal
Commission, including the affirmative vote of
not less than 2 voting members who were
appointed by members of the Republican Party
and not less than 2 voting members who were
appointed by members of the Democratic Party.
(iii) Additional views.--
(I) In general.--A member of the
Fiscal Commission who gives notice of
an intention to file supplemental,
minority, or additional views at the
time of the final Fiscal Commission
vote on the approval of the report and
legislative language of the Fiscal
Commission under clause (i) shall be
entitled to 3 days to file those views
in writing with the staff director of
the Fiscal Commission.
(II) Inclusion in report.--Views
filed under subclause (I) shall be
included in the report of the Fiscal
Commission under clause (i) and printed
in the same volume, or part thereof,
and such inclusion shall be noted on
the cover of the report, except that,
in the absence of timely notice, the
report may be printed and transmitted
immediately without such views.
(iv) Report and legislative language to be
made public.--Upon the approval or disapproval
of a report and legislative language in
accordance with clauses (i) and (ii) by the
Fiscal Commission, the Fiscal Commission shall
promptly, and not more than 24 hours after the
approval or disapproval or, if timely notice is
given under clause (iii), not more than 24
hours after additional views are filed under
such clause, make the report, the legislative
language, and a record of the vote on the
report and legislative language available to
the public.
(v) Submission of report and legislative
language.--If a report and legislative language
are approved by the Fiscal Commission in
accordance with clauses (i) and (ii), not later
than 3 days after the date on which the report
and legislative language are made available to
the public under clause (iv), the Fiscal
Commission shall submit the report and
legislative language to the President, the Vice
President, the Speaker of the House of
Representatives, and the majority and minority
leaders of each House of Congress.
(vi) Extension.--The Fiscal Commission may
extend the deadline set forth in clause (i) to
April 13, 2027, if the Fiscal Commission
determines that additional time is necessary to
complete the duties of the Fiscal Commission
under this Act. Such an extension shall only be
approved upon an affirmative vote of a majority
of the voting members of the Fiscal Commission,
including the affirmative vote of not less than
2 voting members who were appointed by members
of the Republican Party and not less than 2
voting members who were appointed by members of
the Democratic Party.
(C) Public awareness campaign.--Not later than 30
days after the date the Fiscal Commission submits the
report under subparagraph (B)(v), the Fiscal Commission
shall complete a national campaign to increase public
awareness and education with respect to the fiscal
condition of the Nation.
(3) Membership.--
(A) In general.--The Fiscal Commission shall be
composed of 16 members who shall be appointed, not
later than 14 days after the date described in
paragraph (1) and with due consideration to chairs and
ranking minority members of the committees and
subcommittees of subject matter jurisdiction (as
applicable), as follows:
(i) The majority leader of the Senate shall
appoint 3 members from among the Members of the
Senate and 1 member who is an outside expert.
(ii) The minority leader of the Senate
shall appoint 3 members from among the Members
of the Senate and 1 member who is an outside
expert.
(iii) The Speaker of the House of
Representatives shall appoint 3 members from
among the Members of the House of
Representatives and 1 member who is an outside
expert.
(iv) The minority leader of the House of
Representatives shall appoint 3 members from
among the Members of the House of
Representatives and 1 member who is an outside
expert.
(B) Co-chairs.--
(i) In general.--Not later than 14 days
after the date described in paragraph (1)--
(I) the leadership of the Senate
and House of Representatives of the
same political party as the President
shall appoint 1 individual from among
the members of the Fiscal Commission
who shall serve as a co-chair of the
Fiscal Commission; and
(II) the leadership of the Senate
and House of Representatives of the
opposite political party as the
President shall appoint 1 individual
from among the members of the Fiscal
Commission who shall serve as a co-
chair of the Fiscal Commission.
(ii) Staff director.--The co-chairs of the
Fiscal Commission, acting jointly, shall
appoint a staff director for the Fiscal
Commission.
(C) Period of appointment.--
(i) In general.--The members of the Fiscal
Commission shall be appointed for the life of
the Fiscal Commission.
(ii) Vacancy.--
(I) In general.--Any vacancy in the
Fiscal Commission shall not affect the
powers of the Fiscal Commission, but
shall be filled not later than 14 days
after the date on which the vacancy
occurs, in the same manner as the
original appointment was made.
(II) Ineligible members.--If a
member of the Fiscal Commission who was
appointed as a Member of the Senate or
the House Representatives ceases to be
a Member of the Senate or the House of
Representatives, as applicable--
(aa) the member shall no
longer be a member of the
Fiscal Commission; and
(bb) a vacancy in the
Fiscal Commission exists.
(4) Administration.--
(A) In general.--To enable the Fiscal Commission to
exercise the powers, functions, and duties of the
Fiscal Commission, there are authorized to be disbursed
by the Secretary of the Senate from the accounts
determined appropriate under section 5 the actual and
necessary expenses of the Fiscal Commission approved by
the co-chairs of the Fiscal Commission, subject to the
rules and regulations of the Senate.
(B) Space for fiscal commission.--Not later than 90
days after the date of enactment of this Act, the
Architect of the Capitol, in consultation with the
Fiscal Commission, shall identify suitable space to
house the operations of the Fiscal Commission.
(C) Quorum.--Seven voting members of the Fiscal
Commission shall constitute a quorum for purposes of
voting, meeting, and holding hearings. A member who is
an outside expert shall not be counted for purposes of
determining whether there is a quorum under this
subparagraph.
(D) Voting.--
(i) Proxy voting.--No proxy voting shall be
allowed on behalf of any member of the Fiscal
Commission.
(ii) Congressional budget office
estimates.--
(I) In general.--The Director of
the Congressional Budget Office shall,
with respect to the legislative
language of the Fiscal Commission
described in paragraph (2)(B)(i)(II),
provide to the Fiscal Commission--
(aa) estimates of the
legislative language in
accordance with sections 308(a)
and 201(f) of the Congressional
Budget Act of 1974 (2 U.S.C.
639(a), 601(f)); and
(bb) information on the
budgetary effects of the
legislative language on the
long-term fiscal outlook.
(II) Limitation.--The Fiscal
Commission may not vote on any version
of the report, recommendations, or
legislative language of the Fiscal
Commission under paragraph (2)(B)(i)
unless the estimates and information
described in subclause (I) of this
clause are made available for
consideration by all members of the
Fiscal Commission not later than 48
hours before that vote, as certified by
the co-chairs of the Fiscal Commission.
(iii) Outside experts nonvoting members.--
Only members of the Fiscal Commission who are
Members of the Senate or the House of
Representatives may vote on any matter of the
Fiscal Commission. An outside expert serving as
a member of the Fiscal Commission shall be a
nonvoting member.
(E) Meetings.--
(i) Initial meeting.--Not later than 45
days after the date described in paragraph (1),
the Fiscal Commission shall hold the first
meeting of the Fiscal Commission.
(ii) Agenda.--The co-chairs of the Fiscal
Commission shall provide an agenda to the
members of the Fiscal Commission not later than
48 hours before each meeting of the Fiscal
Commission.
(F) Hearings.--
(i) In general.--The Fiscal Commission may,
for the purpose of carrying out this section,
hold such hearings, sit and act at such times
and places, require attendance of witnesses and
production of books, papers, and documents,
take such testimony, receive such evidence, and
administer such oaths as the Fiscal Commission
considers advisable.
(ii) Hearing procedures and
responsibilities of co-chairs.--
(I) Announcement.--The co-chairs of
the Fiscal Commission shall make a
public announcement of the date, place,
time, and subject matter of any hearing
to be conducted under this subparagraph
not later than 7 days before the date
of the hearing, unless the co-chairs
determine that there is good cause to
begin such hearing on an earlier date.
(II) Written statement.--A witness
appearing before the Fiscal Commission
shall file a written statement of the
proposed testimony of the witness not
later than 2 days before the date of
the appearance of the witness, unless
the co-chairs of the Fiscal
Commission--
(aa) determine that there
is good cause for the witness
to not file the written
statement; and
(bb) waive the requirement
that the witness file the
written statement.
(iii) Hearing requirements.--The Fiscal
Commission shall hold not less than 6 hearings
under this subparagraph, which shall include--
(I) field hearings throughout the
Nation;
(II) hearings to solicit testimony
from appropriate officers and employees
of the executive branch; and
(III) hearings to solicit testimony
from Members of the Senate or the House
of Representatives, Delegates to the
House of Representatives, and the
Resident Commissioner from Puerto Rico.
(G) Technical assistance and consultation.--Upon
written request of the co-chairs of the Fiscal
Commission, the head of a Federal agency (including a
legislative branch agency) shall provide technical
assistance to, and consult with, the Fiscal Commission
in order for the Fiscal Commission to carry out its
duties.
(H) Outside expert.--Any outside expert appointed
to the Fiscal Commission--
(i) shall not be considered to be a Federal
employee for any purpose by reason of service
on the Fiscal Commission; and
(ii) shall be allowed travel expenses,
including per diem in lieu of subsistence, at
rates authorized for employees of agencies
under subchapter I of chapter 57 of title 5,
United States Code, while away from their homes
or regular places of business in the
performance of services for the Commission.
(b) Staff of Fiscal Commission.--
(1) In general.--The co-chairs of the Fiscal Commission may
jointly appoint and fix the compensation of staff of the Fiscal
Commission as the co-chairs determine necessary, in accordance
with the guidelines, rules, and requirements relating to
employees of the Senate.
(2) Pay.--The pay of each employee of the Fiscal Commission
shall be disbursed by the Secretary of the Senate.
(c) Ethical Standards.--
(1) Members.--A member of the Fiscal Commission appointed
by a Member of the Senate and any employee of the Fiscal
Commission shall adhere to the ethics rules of the Senate.
(2) House of representatives.--A member of the Fiscal
Commission appointed by a Member of the House of
Representatives shall adhere to the ethics rules and
requirements of the House of Representatives.
(d) Termination.--The Fiscal Commission shall terminate on the
earlier of--
(1) the date that is 30 days after the date the Fiscal
Commission submits the report under subsection (a)(2)(B)(v); or
(2) May 17, 2027.
SEC. 4. EXPEDITED CONSIDERATION OF IMPLEMENTING BILLS.
(a) Qualifying Legislation.--Only an implementing bill shall be
entitled to expedited consideration under this section.
(b) Consideration in the House of Representatives.--
(1) Introduction.--If the Fiscal Commission approves
legislative language in accordance with clauses (i) and (ii) of
section 3(a)(2)(B) and submits the legislative language in
accordance with clause (v) of such section, the implementing
bill consisting solely of that legislative language shall be
introduced in the House of Representatives (by request)--
(A) by the majority leader of the House of
Representatives, or by a Member of the House of
Representatives designated by the majority leader of
the House of Representatives, on the third legislative
day after the date the Fiscal Commission approves and
submits such legislative language; or
(B) if the implementing bill is not introduced
under subparagraph (A), by any Member of the House of
Representatives on any legislative day beginning on the
legislative day after the legislative day described in
subparagraph (A).
(2) Referral and reporting.--Any committee of the House of
Representatives to which an implementing bill is referred shall
report the implementing bill to the House of Representatives
without amendment not later than 5 legislative days after the
date on which the implementing bill was so referred. If any
committee of the House of Representatives to which an
implementing bill is referred fails to report the implementing
bill within that period, that committee shall be automatically
discharged from consideration of the implementing bill, and the
implementing bill shall be placed on the appropriate calendar.
(3) Proceeding to consideration.--After the last committee
authorized to consider an implementing bill reports it to the
House of Representatives or has been discharged from its
consideration, it shall be in order to move to proceed to
consider the implementing bill in the House of Representatives.
Such a motion shall not be in order after the House of
Representatives has disposed of a motion to proceed with
respect to the implementing bill. The previous question shall
be considered as ordered on the motion to its adoption without
intervening motion.
(4) Consideration.--The implementing bill shall be
considered as read. All points of order against the
implementing bill and against its consideration are waived. The
previous question shall be considered as ordered on the
implementing bill to its passage without intervening motion
except 2 hours of debate equally divided and controlled by the
proponent and an opponent.
(5) Vote on passage.--The vote on passage of the
implementing bill shall occur pursuant to the constraints under
clause 8 of rule XX of the Rules of the House of
Representatives.
(c) Expedited Procedure in the Senate.--
(1) Introduction in the senate.--On the day on which an
implementing bill is submitted to the Senate under section
3(a)(2)(B)(v), the implementing bill shall be introduced, by
request, by the majority leader of the Senate for himself or
herself and the minority leader of the Senate, or by any Member
so designated by them. If the Senate is not in session on the
day on which such implementing bill is submitted, it shall be
introduced as provided on the first day thereafter on which the
Senate is in session. Such implementing bill shall be placed on
the Calendar of Business under General Orders.
(2) Proceeding.--Notwithstanding rule XXII of the Standing
Rules of the Senate, it is in order, not later than 2 days of
session after the date on which an implementing bill is placed
on the Calendar, for the majority leader of the Senate or the
designee of the majority leader to move to proceed to the
consideration of the implementing bill. It shall also be in
order for any Member of the Senate to move to proceed to the
consideration of the implementing bill at any time after the
conclusion of such 2-day period. A motion to proceed is in
order even though a previous motion to the same effect has been
disagreed to. All points of order against the motion to proceed
to the implementing bill are waived. The motion to proceed is
not debatable. The motion is not subject to a motion to
postpone. A motion to reconsider the vote by which the motion
is agreed to or disagreed to shall not be in order. If a motion
to proceed to the consideration of the implementing bill is
agreed to, it shall remain the unfinished business until
disposed of. All points of order against the implementing bill
and against its consideration are waived.
(3) No amendments.--An amendment to the implementing bill,
a motion to postpone, a motion to proceed to the consideration
of other business, or a motion to commit the implementing bill
is not in order.
(4) Rulings of the chair on procedure.--Appeals from the
decisions of the Chair relating to the application of the rules
of the Senate, as the case may be, to the procedure relating to
an implementing bill shall be decided without debate.
(d) Amendment.--An implementing bill shall not be subject to
amendment in either the Senate or the House of Representatives.
(e) Consideration by the Other House.--
(1) In general.--If, before passing an implementing bill,
one House receives from the other House an implementing bill--
(A) the implementing bill of the other House shall
not be referred to a committee; and
(B) the procedure in the receiving House shall be
the same as if no implementing bill had been received
from the other House until the vote on passage, when
the implementing bill received from the other House
shall supplant the implementing bill of the receiving
House.
(2) Revenue measures.--This subsection shall not apply to
the House of Representatives if an implementing bill received
from the Senate is a revenue measure.
(f) Rules To Coordinate Action With Other House.--
(1) Treatment of implementing bill of other house.--If an
implementing bill is not introduced in the Senate or the Senate
fails to consider an implementing bill under this section, the
implementing bill of the House of Representatives shall be
entitled to expedited floor procedures under this section.
(2) Treatment of companion measures in the senate.--If,
following passage of an implementing bill in the Senate, the
Senate then receives from the House of Representatives an
implementing bill, the House-passed implementing bill shall not
be debatable. The vote on passage of the implementing bill in
the Senate shall be considered to be the vote on passage of the
implementing bill received from the House of Representatives.
(3) Vetoes.--If the President vetoes an implementing bill,
consideration of a veto message in the Senate under this
paragraph shall be 10 hours equally divided between the
majority and minority leaders of the Senate or the designees of
the majority and minority leaders of the Senate.
SEC. 5. FUNDING.
Funding for the Fiscal Commission shall be derived from such
accounts of the Senate as are determined appropriate by the Committee
on Appropriations of the Senate.
SEC. 6. RULEMAKING.
The provisions of section 4 are enacted by Congress--
(1) as an exercise of the rulemaking power of the Senate
and the House of Representatives, respectively, and, as such,
the provisions--
(A) shall be considered as part of the rules of
each House, respectively, or of that House to which
they specifically apply; and
(B) shall supersede other rules only to the extent
that they are inconsistent therewith; and
(2) with full recognition of the constitutional right of
either House to change such rules (so far as relating to such
House) at any time, in the same manner, and to the same extent
as in the case of any other rule of such House.
<all>
Fiscal Commission Act
#4012 | S Congress #119
Policy Area: Congress
Subjects:
Last Action: Read twice and referred to the Committee on Rules and Administration. (3/5/2026)
Bill Text Source: Congress.gov
Summary and Impacts
Original Text