Establishes the National Commission on Federal Budget Deficit Reductions to review all relevant elements of fiscal and monetary policy. Requires particular emphasis to be given to the causes of cyclical and structural Federal budget deficits and the impact which growing structural Federal deficits have on employment, capital formation, and the vigor and viability of economic growth in the United States. Requires the Commission to: (1) identify problems which may hinder the control and reduction of Federal budget deficits; and (2) analyze all potential options which would result in deficit reductions and place the Government on a sound financial basis.
Requires the Commission to report to the President and the Congress within six months after enactment of this Act.
Terminates the Commission 30 days after submission of such report.
Introduced in House
Introduced in House
Referred to House Committee on Government Operations.
Executive Comment Requested from OMB, Treasury, Federal Reserve System.
Referred to Subcommittee on Legislation and National Security.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line