Fiscal Commission Act

Key Points

• The bill creates a 16-member Fiscal Commission within Congress — 12 members of Congress and 4 outside experts — tasked with finding ways to reduce the national debt and deficit. The commission must propose a plan to bring the public debt-to-GDP ratio below 100% by 2039.
• The commission must also propose changes to improve the solvency of federal trust funds — like those funding Social Security and Medicare — for at least 75 years, ensuring these programs remain stable for future generations.
• Any final report and legislative proposal requires bipartisan approval — a majority of voting members plus at least 2 Republicans and 2 Democrats must agree. This prevents either party from pushing through a one-sided plan.
• If the commission approves a plan, Congress must consider it on a fast track with no amendments allowed. Committees have just 5 legislative days to act, and debate in the House is limited to 2 hours. This prevents stalling or adding unrelated items.
• The commission is required to hold at least 6 hearings, including field hearings around the country, and must run a national public awareness campaign about the country's fiscal condition within 30 days of submitting its report.
• The bill has bipartisan sponsorship with 10 senators — 5 Republicans and 5 Democrats — led by Curtis and King. The commission must vote on its final report between November 4-13, 2026, though it can extend the deadline to April 2027 with bipartisan agreement.