The Fiscal Commission Act establishes a bipartisan commission of 16 members—12 from Congress and 4 outside experts—tasked with addressing the nation's long-term fiscal crisis by proposing policies to reduce federal debt and deficits. The Commission, which begins operations 60 days after enactment, must submit legislative recommendations by April 13, 2027, with the goal of bringing the public debt-to-GDP ratio to no more than 100 percent by fiscal year 2039 and ensuring federal trust funds remain solvent for at least 75 years. To develop these recommendations, the Commission must conduct at least 6 public hearings nationwide and obtain Congressional Budget Office cost estimates before voting on any proposals, with final recommendations requiring majority support including at least 2 Republicans and 2 Democrats. The Commission is funded through Senate appropriations, operates under congressional ethics rules, and automatically terminates 30 days after submitting its report or by May 17, 2027, whichever comes first. Any legislation implementing the Commission's recommendations will follow expedited consideration procedures in both chambers, though either chamber may modify these rules at any time.
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