Washington, D.C. — Today, Representatives Scott Peters (D-CA-50) and Bill Huizenga (R-MI-4), co-chairs of the Bipartisan Fiscal Forum, reintroduced the Fiscal Commission Act. Their commonsense legislation would establish a bipartisan, bicameral, and open-doored commission to tackle our nation’s long-term debt, help us avoid automatic and across-the-board cuts to Social Security and Medicare, and secure a more prosperous future for our children. The commission would be required to put forward recommendations on adjusting both taxes and spending to reduce our borrowing, hold field hearings, and educate the public on its work.   

“When I first introduced this legislation two years ago, we estimated that interest payments on the national debt would exceed defense and Medicaid spending in a decade. Today, we are already at that point,” said Rep. Peters. “Our accelerating fiscal crisis threatens to bankrupt our children’s future. Congress has been too timid or too afraid to act but kicking the can down the road only makes solving this problem more costly and painful. ‘Regular order’ and the status quo have not worked for the last twenty years, we owe it to the American people to do something different.”  

“Our bipartisan Fiscal Commission Act is the most practical, immediate, and comprehensive action Congress can take right now to end our nation’s deepening fiscal crisis,” said Congressman Bill Huizenga. “If we do not address the unsustainable trajectory of our national debt, Americans who rely on Medicare and Social Security will face mandatory cuts to their benefits. We can protect and preserve these vital programs while improving the fiscal health of our nation by passing the Fiscal Commission Act and finally forcing Congress to act.” 

Fromer Senator Rob Portman said, “one of our challenges as a country is how to find common ground to solve tough policy problems. Sometimes, when Congress can't find a way forward, we have turned to bipartisan commissions to break through partisan gridlock to move the country forward. I believe we have reached that moment when it comes to addressing our unsustainable federal debt. A bipartisan group of key lawmakers and outside experts established by Congress has the potential both to bring people along by outlining the fiscal crisis in an objective and transparent way and to chart a responsible, bipartisan way ahead. I applaud Representatives Huizenga and Peters for introducing the Fiscal Commission Act. Their leadership shows that Democrats and Republicans can still work together to confront tough issues and put the country’s long-term interests first.” 

Maya MacGuineas, president of the Committee for a Responsible Federal Budget, said, “A bipartisan fiscal commission would give the country’s fiscal situation the attention it urgently deserves. Fixing our growing debt will not be easy, but the Fiscal Commission Act would create a venue for serious, cross-party dialogue and help pave the way toward a more sustainable fiscal future. We commend Representatives Huizenga and Peters, co-chairs of the Bipartisan Fiscal Forum, for their leadership in putting forward a thoughtful, serious proposal to confront one of our greatest long-term challenges.” 

Ben Ritz, Vice President of  the Progressive Policy Institute, said "at a time when our government is spending more money on interest payments than it is on national defense or Medicaid, Congress should be working to get our debt under control — not add to it with several trillion dollars of unfunded tax cuts. The Fiscal Commission Act is a small first step towards fixing the problem rather than making it worse." 

The Fiscal Commission Act would create a committee of  

16 members selected by Congressional leadership of each party. Each party leader selects 4 members (3 colleagues from their chamber and 1 outside expert). Final makeup would be 6 House members (3 R, 3 D), 6 Senators (3 R, 3 D), and 4 outside experts (2 R, 2 D). Approving the commission’s recommendations requires a majority vote including at least 3 members of each party, and outside experts do not vote. 

Background: 

Reps. Peters and Huizenga first introduced the Fiscal Commission Act in September 2023. The legislation passed out of the House Budget Committee in January 2024. 

The Fiscal Commission Act is supported by Representatives Ed Case (D-HI), Herb Conaway (D-NJ), Henry Cuellar (D-TX), Marie Gluesenkamp Perez (D-WA), Jared Golden (D-ME), Adam Gray (D-CA), Greg Landsman (D-OH), Jared Moskowitz (D-FL), Jimmy Panetta (D-CA), Mike Quigley (D-IL), Hillary Scholten (D-MI), Brad Schneider (D-IL), Tom Suozzi (D-NY), William Timmons (R-SC), Cory Mills (R-FL), Jack Bergman (R-MI), Blake Moore (R-UT), Adrian Smith (R-NE), Brian Fitzpatrick (R-PA), Dusty Johnson (R-SD), David Schweikert (R-AZ) , John Moolenaar (R-MI), David Rouzer (R-NC), Erin Houchin (R-IN), David Valadao (R-CA), & Andy Barr (R-KY). 

Read the full text of the Fiscal Commission Act here. 

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