S. 4012

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 4012 Introduced in Senate (IS)]

<DOC>

119th CONGRESS
2d Session
S. 4012

To establish a commission on fiscal responsibility and reform.

_______________________________________________________________________

IN THE SENATE OF THE UNITED STATES

March 5, 2026

Mr. Curtis (for himself, Mr. King, Mr. Tillis, Mr. Coons, Mr. Young, 
Mrs. Shaheen, Mr. Cassidy, Mr. Kaine, Mr. Cramer, and Mr. Warner) 
introduced the following bill; which was read twice and referred to the 
Committee on Rules and Administration

_______________________________________________________________________

A BILL

To establish a commission on fiscal responsibility and reform.

Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Fiscal Commission Act''.

SEC. 2. DEFINITIONS.

In this Act:
(1) Co-chair.--The term ``co-chair'' means an individual 
appointed to serve as a co-chair of the Fiscal Commission under 
section 3(a)(3)(B)(i).
(2) Direct spending.--The term ``direct spending'' has the 
meaning given that term in section 250(c) of the Balanced 
Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 
901(c)).
(3) Discretionary appropriations.--The term ``discretionary 
appropriations'' has the meaning given that term in section 
250(c) of the Balanced Budget and Emergency Deficit Control Act 
of 1985 (2 U.S.C. 901(c)).
(4) Fiscal commission.--The term ``Fiscal Commission'' 
means the commission established under section 3(a)(1)(A).
(5) Implementing bill.--The term ``implementing bill'' 
means a bill or joint resolution consisting solely of the 
legislative text the Fiscal Commission approves in accordance 
with clauses (i) and (ii) of section 3(a)(2)(B) and submits 
under clause (v) of such section.
(6) Outside expert.--The term ``outside expert'' means an 
individual who is not an elected official or an officer or 
employee of the Federal Government or of any State.

SEC. 3. ESTABLISHMENT OF FISCAL COMMISSION.

(a) Establishment of Fiscal Commission.--
(1) Establishment.--
(A) In general.--Effective on the date that is 60 
days after the date of enactment of this Act, there is 
established in Congress a Fiscal Commission.
(B) Goals.--The goals of the Commission shall be to 
educate, and bring awareness to, the people of the 
United States about the fiscal path the Nation is on, 
including--
(i) educating the people of the United 
States so they understand the fiscal state of 
the Nation and the cost of not addressing such 
state; and
(ii) informing the people of the United 
States about the deterioration of the fiscal 
health of the Nation, and that the debt poses a 
significant risk to the long-term fiscal 
sustainability of the Nation, with implications 
for future generations.
(2) Duties.--
(A) Improve fiscal condition.--
(i) In general.--The Fiscal Commission 
shall identify policies to--
(I) meaningfully improve the long-
term fiscal condition of the Federal 
Government, including reducing the debt 
and deficit;
(II) achieve a sustainable ratio of 
the public debt of the Federal 
Government to the gross domestic 
product of the United States, which 
shall be not more than 100 percent, by 
fiscal year 2039; and
(III) improve the solvency, for a 
period of at least 75 years, of trust 
funds used to carry out Federal 
programs.
(ii) Requirements.--In carrying out clause 
(i), the Fiscal Commission shall propose 
recommendations that meaningfully improve the 
long-term fiscal condition of the Federal 
Government, including--
(I) changes to address the current 
levels of discretionary appropriations, 
direct spending, and revenues and the 
gap between current revenues and 
expenditures of the Federal Government; 
and
(II) changes to address the growth 
of discretionary appropriations, direct 
spending, and revenues and the gap 
between the projected revenues and 
expenditures of the Federal Government.
(iii) Recommendations of committees.--Not 
later than 60 days after the date described in 
paragraph (1), each committee of the Senate and 
the House of Representatives may transmit to 
the Fiscal Commission any recommendations of 
the committee relating to changes in law to 
further the duties described in clause (i) or 
(ii).
(iv) Interim report.--The Fiscal Commission 
may meet to consider, and vote on, an interim 
report on--
(I) the findings and 
recommendations of the Fiscal 
Commission regarding the budgetary 
effects of changes in economic output, 
employment, capital stock, and other 
macroeconomic variables resulting from 
public and private investments;
(II) any findings or 
recommendations of the Fiscal 
Commission with respect to carrying out 
the goals described in paragraph 
(1)(B); and
(III) as the Fiscal Commission 
determines appropriate, any findings 
resulting from any hearing held or 
evidence received by the Commission.
(B) Report identified policies.--
(i) In general.--Subject to paragraph 
(4)(D)(ii)(II), not earlier than November 4, 
2026, and, subject to clause (vi), not later 
than November 13, 2026, the Fiscal Commission 
shall meet to consider, and vote on--
(I) a report that contains--
(aa) a detailed statement 
of--

(AA) the findings 
and recommendations of 
the Fiscal Commission 
regarding the budgetary 
effects of changes in 
economic output, 
employment, capital 
stock, and other 
macroeconomic variables 
resulting from public 
and private 
investments;

(BB) any findings 
or recommendations of 
the Fiscal Commission 
with respect to 
carrying out the goals 
described in paragraph 
(1)(B); and

(CC) as the Fiscal 
Commission determines 
appropriate, any 
findings resulting from 
any hearing held or 
evidence received by 
the Commission;

(bb) a statement of the 
economic and budgetary effects 
of the legislative language 
described in subclause (II); 
and
(cc) the estimate of the 
Congressional Budget Office 
required under paragraph 
(4)(D)(ii); and
(II) legislative language to carry 
out the recommendations of the Fiscal 
Commission in the report described in 
subclause (I)(aa).
(ii) Approval of report and legislative 
language.--A report and legislative language of 
the Fiscal Commission under clause (i) shall 
only be approved upon an affirmative vote of a 
majority of the voting members of the Fiscal 
Commission, including the affirmative vote of 
not less than 2 voting members who were 
appointed by members of the Republican Party 
and not less than 2 voting members who were 
appointed by members of the Democratic Party.
(iii) Additional views.--
(I) In general.--A member of the 
Fiscal Commission who gives notice of 
an intention to file supplemental, 
minority, or additional views at the 
time of the final Fiscal Commission 
vote on the approval of the report and 
legislative language of the Fiscal 
Commission under clause (i) shall be 
entitled to 3 days to file those views 
in writing with the staff director of 
the Fiscal Commission.
(II) Inclusion in report.--Views 
filed under subclause (I) shall be 
included in the report of the Fiscal 
Commission under clause (i) and printed 
in the same volume, or part thereof, 
and such inclusion shall be noted on 
the cover of the report, except that, 
in the absence of timely notice, the 
report may be printed and transmitted 
immediately without such views.
(iv) Report and legislative language to be 
made public.--Upon the approval or disapproval 
of a report and legislative language in 
accordance with clauses (i) and (ii) by the 
Fiscal Commission, the Fiscal Commission shall 
promptly, and not more than 24 hours after the 
approval or disapproval or, if timely notice is 
given under clause (iii), not more than 24 
hours after additional views are filed under 
such clause, make the report, the legislative 
language, and a record of the vote on the 
report and legislative language available to 
the public.
(v) Submission of report and legislative 
language.--If a report and legislative language 
are approved by the Fiscal Commission in 
accordance with clauses (i) and (ii), not later 
than 3 days after the date on which the report 
and legislative language are made available to 
the public under clause (iv), the Fiscal 
Commission shall submit the report and 
legislative language to the President, the Vice 
President, the Speaker of the House of 
Representatives, and the majority and minority 
leaders of each House of Congress.
(vi) Extension.--The Fiscal Commission may 
extend the deadline set forth in clause (i) to 
April 13, 2027, if the Fiscal Commission 
determines that additional time is necessary to 
complete the duties of the Fiscal Commission 
under this Act. Such an extension shall only be 
approved upon an affirmative vote of a majority 
of the voting members of the Fiscal Commission, 
including the affirmative vote of not less than 
2 voting members who were appointed by members 
of the Republican Party and not less than 2 
voting members who were appointed by members of 
the Democratic Party.
(C) Public awareness campaign.--Not later than 30 
days after the date the Fiscal Commission submits the 
report under subparagraph (B)(v), the Fiscal Commission 
shall complete a national campaign to increase public 
awareness and education with respect to the fiscal 
condition of the Nation.
(3) Membership.--
(A) In general.--The Fiscal Commission shall be 
composed of 16 members who shall be appointed, not 
later than 14 days after the date described in 
paragraph (1) and with due consideration to chairs and 
ranking minority members of the committees and 
subcommittees of subject matter jurisdiction (as 
applicable), as follows:
(i) The majority leader of the Senate shall 
appoint 3 members from among the Members of the 
Senate and 1 member who is an outside expert.
(ii) The minority leader of the Senate 
shall appoint 3 members from among the Members 
of the Senate and 1 member who is an outside 
expert.
(iii) The Speaker of the House of 
Representatives shall appoint 3 members from 
among the Members of the House of 
Representatives and 1 member who is an outside 
expert.
(iv) The minority leader of the House of 
Representatives shall appoint 3 members from 
among the Members of the House of 
Representatives and 1 member who is an outside 
expert.
(B) Co-chairs.--
(i) In general.--Not later than 14 days 
after the date described in paragraph (1)--
(I) the leadership of the Senate 
and House of Representatives of the 
same political party as the President 
shall appoint 1 individual from among 
the members of the Fiscal Commission 
who shall serve as a co-chair of the 
Fiscal Commission; and
(II) the leadership of the Senate 
and House of Representatives of the 
opposite political party as the 
President shall appoint 1 individual 
from among the members of the Fiscal 
Commission who shall serve as a co-
chair of the Fiscal Commission.
(ii) Staff director.--The co-chairs of the 
Fiscal Commission, acting jointly, shall 
appoint a staff director for the Fiscal 
Commission.
(C) Period of appointment.--
(i) In general.--The members of the Fiscal 
Commission shall be appointed for the life of 
the Fiscal Commission.
(ii) Vacancy.--
(I) In general.--Any vacancy in the 
Fiscal Commission shall not affect the 
powers of the Fiscal Commission, but 
shall be filled not later than 14 days 
after the date on which the vacancy 
occurs, in the same manner as the 
original appointment was made.
(II) Ineligible members.--If a 
member of the Fiscal Commission who was 
appointed as a Member of the Senate or 
the House Representatives ceases to be 
a Member of the Senate or the House of 
Representatives, as applicable--
(aa) the member shall no 
longer be a member of the 
Fiscal Commission; and
(bb) a vacancy in the 
Fiscal Commission exists.
(4) Administration.--
(A) In general.--To enable the Fiscal Commission to 
exercise the powers, functions, and duties of the 
Fiscal Commission, there are authorized to be disbursed 
by the Secretary of the Senate from the accounts 
determined appropriate under section 5 the actual and 
necessary expenses of the Fiscal Commission approved by 
the co-chairs of the Fiscal Commission, subject to the 
rules and regulations of the Senate.
(B) Space for fiscal commission.--Not later than 90 
days after the date of enactment of this Act, the 
Architect of the Capitol, in consultation with the 
Fiscal Commission, shall identify suitable space to 
house the operations of the Fiscal Commission.
(C) Quorum.--Seven voting members of the Fiscal 
Commission shall constitute a quorum for purposes of 
voting, meeting, and holding hearings. A member who is 
an outside expert shall not be counted for purposes of 
determining whether there is a quorum under this 
subparagraph.
(D) Voting.--
(i) Proxy voting.--No proxy voting shall be 
allowed on behalf of any member of the Fiscal 
Commission.
(ii) Congressional budget office 
estimates.--
(I) In general.--The Director of 
the Congressional Budget Office shall, 
with respect to the legislative 
language of the Fiscal Commission 
described in paragraph (2)(B)(i)(II), 
provide to the Fiscal Commission--
(aa) estimates of the 
legislative language in 
accordance with sections 308(a) 
and 201(f) of the Congressional 
Budget Act of 1974 (2 U.S.C. 
639(a), 601(f)); and
(bb) information on the 
budgetary effects of the 
legislative language on the 
long-term fiscal outlook.
(II) Limitation.--The Fiscal 
Commission may not vote on any version 
of the report, recommendations, or 
legislative language of the Fiscal 
Commission under paragraph (2)(B)(i) 
unless the estimates and information 
described in subclause (I) of this 
clause are made available for 
consideration by all members of the 
Fiscal Commission not later than 48 
hours before that vote, as certified by 
the co-chairs of the Fiscal Commission.
(iii) Outside experts nonvoting members.--
Only members of the Fiscal Commission who are 
Members of the Senate or the House of 
Representatives may vote on any matter of the 
Fiscal Commission. An outside expert serving as 
a member of the Fiscal Commission shall be a 
nonvoting member.
(E) Meetings.--
(i) Initial meeting.--Not later than 45 
days after the date described in paragraph (1), 
the Fiscal Commission shall hold the first 
meeting of the Fiscal Commission.
(ii) Agenda.--The co-chairs of the Fiscal 
Commission shall provide an agenda to the 
members of the Fiscal Commission not later than 
48 hours before each meeting of the Fiscal 
Commission.
(F) Hearings.--
(i) In general.--The Fiscal Commission may, 
for the purpose of carrying out this section, 
hold such hearings, sit and act at such times 
and places, require attendance of witnesses and 
production of books, papers, and documents, 
take such testimony, receive such evidence, and 
administer such oaths as the Fiscal Commission 
considers advisable.
(ii) Hearing procedures and 
responsibilities of co-chairs.--
(I) Announcement.--The co-chairs of 
the Fiscal Commission shall make a 
public announcement of the date, place, 
time, and subject matter of any hearing 
to be conducted under this subparagraph 
not later than 7 days before the date 
of the hearing, unless the co-chairs 
determine that there is good cause to 
begin such hearing on an earlier date.
(II) Written statement.--A witness 
appearing before the Fiscal Commission 
shall file a written statement of the 
proposed testimony of the witness not 
later than 2 days before the date of 
the appearance of the witness, unless 
the co-chairs of the Fiscal 
Commission--
(aa) determine that there 
is good cause for the witness 
to not file the written 
statement; and
(bb) waive the requirement 
that the witness file the 
written statement.
(iii) Hearing requirements.--The Fiscal 
Commission shall hold not less than 6 hearings 
under this subparagraph, which shall include--
(I) field hearings throughout the 
Nation;
(II) hearings to solicit testimony 
from appropriate officers and employees 
of the executive branch; and
(III) hearings to solicit testimony 
from Members of the Senate or the House 
of Representatives, Delegates to the 
House of Representatives, and the 
Resident Commissioner from Puerto Rico.
(G) Technical assistance and consultation.--Upon 
written request of the co-chairs of the Fiscal 
Commission, the head of a Federal agency (including a 
legislative branch agency) shall provide technical 
assistance to, and consult with, the Fiscal Commission 
in order for the Fiscal Commission to carry out its 
duties.
(H) Outside expert.--Any outside expert appointed 
to the Fiscal Commission--
(i) shall not be considered to be a Federal 
employee for any purpose by reason of service 
on the Fiscal Commission; and
(ii) shall be allowed travel expenses, 
including per diem in lieu of subsistence, at 
rates authorized for employees of agencies 
under subchapter I of chapter 57 of title 5, 
United States Code, while away from their homes 
or regular places of business in the 
performance of services for the Commission.
(b) Staff of Fiscal Commission.--
(1) In general.--The co-chairs of the Fiscal Commission may 
jointly appoint and fix the compensation of staff of the Fiscal 
Commission as the co-chairs determine necessary, in accordance 
with the guidelines, rules, and requirements relating to 
employees of the Senate.
(2) Pay.--The pay of each employee of the Fiscal Commission 
shall be disbursed by the Secretary of the Senate.
(c) Ethical Standards.--
(1) Members.--A member of the Fiscal Commission appointed 
by a Member of the Senate and any employee of the Fiscal 
Commission shall adhere to the ethics rules of the Senate.
(2) House of representatives.--A member of the Fiscal 
Commission appointed by a Member of the House of 
Representatives shall adhere to the ethics rules and 
requirements of the House of Representatives.
(d) Termination.--The Fiscal Commission shall terminate on the 
earlier of--
(1) the date that is 30 days after the date the Fiscal 
Commission submits the report under subsection (a)(2)(B)(v); or
(2) May 17, 2027.

SEC. 4. EXPEDITED CONSIDERATION OF IMPLEMENTING BILLS.

(a) Qualifying Legislation.--Only an implementing bill shall be 
entitled to expedited consideration under this section.
(b) Consideration in the House of Representatives.--
(1) Introduction.--If the Fiscal Commission approves 
legislative language in accordance with clauses (i) and (ii) of 
section 3(a)(2)(B) and submits the legislative language in 
accordance with clause (v) of such section, the implementing 
bill consisting solely of that legislative language shall be 
introduced in the House of Representatives (by request)--
(A) by the majority leader of the House of 
Representatives, or by a Member of the House of 
Representatives designated by the majority leader of 
the House of Representatives, on the third legislative 
day after the date the Fiscal Commission approves and 
submits such legislative language; or
(B) if the implementing bill is not introduced 
under subparagraph (A), by any Member of the House of 
Representatives on any legislative day beginning on the 
legislative day after the legislative day described in 
subparagraph (A).
(2) Referral and reporting.--Any committee of the House of 
Representatives to which an implementing bill is referred shall 
report the implementing bill to the House of Representatives 
without amendment not later than 5 legislative days after the 
date on which the implementing bill was so referred. If any 
committee of the House of Representatives to which an 
implementing bill is referred fails to report the implementing 
bill within that period, that committee shall be automatically 
discharged from consideration of the implementing bill, and the 
implementing bill shall be placed on the appropriate calendar.
(3) Proceeding to consideration.--After the last committee 
authorized to consider an implementing bill reports it to the 
House of Representatives or has been discharged from its 
consideration, it shall be in order to move to proceed to 
consider the implementing bill in the House of Representatives. 
Such a motion shall not be in order after the House of 
Representatives has disposed of a motion to proceed with 
respect to the implementing bill. The previous question shall 
be considered as ordered on the motion to its adoption without 
intervening motion.
(4) Consideration.--The implementing bill shall be 
considered as read. All points of order against the 
implementing bill and against its consideration are waived. The 
previous question shall be considered as ordered on the 
implementing bill to its passage without intervening motion 
except 2 hours of debate equally divided and controlled by the 
proponent and an opponent.
(5) Vote on passage.--The vote on passage of the 
implementing bill shall occur pursuant to the constraints under 
clause 8 of rule XX of the Rules of the House of 
Representatives.
(c) Expedited Procedure in the Senate.--
(1) Introduction in the senate.--On the day on which an 
implementing bill is submitted to the Senate under section 
3(a)(2)(B)(v), the implementing bill shall be introduced, by 
request, by the majority leader of the Senate for himself or 
herself and the minority leader of the Senate, or by any Member 
so designated by them. If the Senate is not in session on the 
day on which such implementing bill is submitted, it shall be 
introduced as provided on the first day thereafter on which the 
Senate is in session. Such implementing bill shall be placed on 
the Calendar of Business under General Orders.
(2) Proceeding.--Notwithstanding rule XXII of the Standing 
Rules of the Senate, it is in order, not later than 2 days of 
session after the date on which an implementing bill is placed 
on the Calendar, for the majority leader of the Senate or the 
designee of the majority leader to move to proceed to the 
consideration of the implementing bill. It shall also be in 
order for any Member of the Senate to move to proceed to the 
consideration of the implementing bill at any time after the 
conclusion of such 2-day period. A motion to proceed is in 
order even though a previous motion to the same effect has been 
disagreed to. All points of order against the motion to proceed 
to the implementing bill are waived. The motion to proceed is 
not debatable. The motion is not subject to a motion to 
postpone. A motion to reconsider the vote by which the motion 
is agreed to or disagreed to shall not be in order. If a motion 
to proceed to the consideration of the implementing bill is 
agreed to, it shall remain the unfinished business until 
disposed of. All points of order against the implementing bill 
and against its consideration are waived.
(3) No amendments.--An amendment to the implementing bill, 
a motion to postpone, a motion to proceed to the consideration 
of other business, or a motion to commit the implementing bill 
is not in order.
(4) Rulings of the chair on procedure.--Appeals from the 
decisions of the Chair relating to the application of the rules 
of the Senate, as the case may be, to the procedure relating to 
an implementing bill shall be decided without debate.
(d) Amendment.--An implementing bill shall not be subject to 
amendment in either the Senate or the House of Representatives.
(e) Consideration by the Other House.--
(1) In general.--If, before passing an implementing bill, 
one House receives from the other House an implementing bill--
(A) the implementing bill of the other House shall 
not be referred to a committee; and
(B) the procedure in the receiving House shall be 
the same as if no implementing bill had been received 
from the other House until the vote on passage, when 
the implementing bill received from the other House 
shall supplant the implementing bill of the receiving 
House.
(2) Revenue measures.--This subsection shall not apply to 
the House of Representatives if an implementing bill received 
from the Senate is a revenue measure.
(f) Rules To Coordinate Action With Other House.--
(1) Treatment of implementing bill of other house.--If an 
implementing bill is not introduced in the Senate or the Senate 
fails to consider an implementing bill under this section, the 
implementing bill of the House of Representatives shall be 
entitled to expedited floor procedures under this section.
(2) Treatment of companion measures in the senate.--If, 
following passage of an implementing bill in the Senate, the 
Senate then receives from the House of Representatives an 
implementing bill, the House-passed implementing bill shall not 
be debatable. The vote on passage of the implementing bill in 
the Senate shall be considered to be the vote on passage of the 
implementing bill received from the House of Representatives.
(3) Vetoes.--If the President vetoes an implementing bill, 
consideration of a veto message in the Senate under this 
paragraph shall be 10 hours equally divided between the 
majority and minority leaders of the Senate or the designees of 
the majority and minority leaders of the Senate.

SEC. 5. FUNDING.

Funding for the Fiscal Commission shall be derived from such 
accounts of the Senate as are determined appropriate by the Committee 
on Appropriations of the Senate.

SEC. 6. RULEMAKING.

The provisions of section 4 are enacted by Congress--
(1) as an exercise of the rulemaking power of the Senate 
and the House of Representatives, respectively, and, as such, 
the provisions--
(A) shall be considered as part of the rules of 
each House, respectively, or of that House to which 
they specifically apply; and
(B) shall supersede other rules only to the extent 
that they are inconsistent therewith; and
(2) with full recognition of the constitutional right of 
either House to change such rules (so far as relating to such 
House) at any time, in the same manner, and to the same extent 
as in the case of any other rule of such House.
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