A bill to establish a national commission on fiscal responsibility and reform, and for other purposes.
Sustainable Budget Act of 2021
This bill establishes the National Commission on Fiscal Responsibility and Reform within the legislative branch to identify policies to improve the fiscal situation in the medium term and achieve fiscal sustainability over the long term.
The commission must propose recommendations that (1) are designed to balance the budget, excluding interest payments on the debt, within 10 years in order to stabilize the ratio of the public debt to gross domestic product at an acceptable level; and (2) meaningfully improve the long-term fiscal outlook, including changes to address the growth of entitlement spending and the gap between projected federal revenues and expenditures.
Congress must consider the commission's recommendations using specified expedited legislative procedures.
Referred to the Committee on the Budget, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in Senate
Read twice and referred to the Committee on the Budget.
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