U.S. Rep. Steve Womack (R-AR) recently introduced bipartisan legislation that would establish a national bipartisan commission on fiscal responsibility and reform.
“The stark fiscal reality we face should alarm every member. Our unsustainable trajectory is one of the greatest threats to America’s prosperity, security, and future generations,” Rep. Womack said. “We need to implement every mechanism available to tackle the dysfunction. This bipartisan commission will help deliver needed policy solutions to chart a responsible way forward.”
The commission would be authorized under the Sustainable Budget Act of 2023, H.R. 710, which Rep. Womack cosponsored on Feb. 1 alongside bill sponsor U.S. Rep. Ed Case (D-HI).
Known as the National Commission on Fiscal Responsibility and Reform, the entity would consist of 18 members chosen by the president, the Speaker of the House, the House minority leader, and the Senate majority and minority leaders. Members would be tasked with creating a bipartisan plan to reduce the deficit and balance the federal budget within 10 years, according to the text of the bill.
Additionally, the commission would propose recommendations that “meaningfully improve” the long-term fiscal outlook, including changes to address the growth of entitlement spending and the gap between the projected revenues and expenditures of the federal government, the bill’s text says.
“With the fastest-growing part of our federal budget interest on our national debt increasingly outpacing and crowding out critical defense and nondefense spending alike, we are all well past denial and into the danger zone,” said Rep. Case. “We need look no further than a mirror to find the root cause: our collective inability to face the music of fiscal responsibility and sustainability.”
The Committee for a Responsible Federal Budget endorsed H.R. 710, which has been referred to both the U.S. House Budget Committee and the U.S. House Rules Committee for consideration.