Holland Reporter

Last night, Congressman Bill Huizenga (R-MI) introduced the Fiscal Commission Act of 2023, a bipartisan effort aimed at tackling the nation's unsustainable national debt. The proposed commission will consist of Members of Congress as well as individuals from the private sector, who will work together to propose recommendations to significantly improve the country's medium and long-term fiscal trajectory. The legislation requires both the House and the Senate to address the national debt before the end of the 118th Congress.

"The only way to get our nation’s fiscal house in order is for Congress to face reality and address the unsustainable trajectory of our national debt," said Congressman Bill Huizenga. "For too long, Congress has kicked the can down the road and not made the decisions necessary to secure our nation’s fiscal future for the next generation of Americans. The Fiscal Commission Act of 2023 requires Congress to vote on serious proposals from this bipartisan commission that will significantly improve the financial health of our nation."

Congressman Huizenga worked with Congressman Scott Peters (D-CA), his fellow Bipartisan Fiscal Forum Co-Chair, to push for the creation of a fiscal commission. Congressman Peters is an original cosponsor of this bipartisan bill.

In addition to Congressman Peters, the Fiscal Commission Act of 2023 is cosponsored by Representatives Tom Cole (R-OK), Brad Schneider (D-IL), Victoria Spartz (R-IN), Ed Case (D-HI), William Timmons (R-SC), Chrissy Houlahan (D-PA), Adrian Smith (R-NE), Ami Bera (D-CA), David Schweikert (R-AZ), Jimmy Panetta (D-CA), Blake Moore (R-UT), Jared Golden (D-ME), and Cory Mills (R-FL).

Details on the Fiscal Commission:

- Commission Structure: The Fiscal Commission will consist of 16 members. Each chamber's Speaker of the House, House Minority Leader, Senate Majority Leader, and Senate Minority Leader will select and designate four members to the Commission. Three of the selected commissioners will be members from their respective chambers, while one will be an individual or expert from the private sector. The Commission will be established within 60 days of enactment, and its recommendations will be voted on shortly after the 2024 election.

- Commission Function: The Commission's main objective is to identify policies to improve the fiscal situation in the medium term and achieve a sustainable debt-to-GDP ratio in the long term. Recommendations must aim to improve solvency for federal trust fund programs for decades to come and propose balancing the budget within 10 years, stabilizing the debt-to-GDP ratio at or below 100%.

- Commission Voting Process: Recommendations within the Commission require a simple majority vote, with at least three members of each party making up the majority.

- Expedited Votes in Congress: The legislation mandates that each chamber of Congress must vote on the Commission's final proposal without amendment or delay.

The introduction of the Fiscal Commission Act of 2023 signifies a crucial step towards addressing the nation's long-standing issue of national debt. With the participation of bipartisan members and private sector experts, this commission aims to propose meaningful recommendations that will secure the financial future of the United States. By requiring Congress to vote on these proposals, Congressman Huizenga and his colleagues are taking a proactive stance in securing the nation's fiscal health.

For more information about the Fiscal Commission Act of 2023, visit the official website of Congressman Bill Huizenga.