Fiscal Commission Act

This bill establishes a new Fiscal Commission within Congress to analyze the nation's long-term fiscal health and propose reforms to reduce the federal debt and deficit. The commission will be composed of 16 members appointed by Senate and House leadership, including outside experts, and will have two co-chairs representing opposing political parties to ensure balanced oversight. Its primary duties include educating the public about fiscal risks, developing policies to achieve a sustainable debt-to-GDP ratio of 100 percent by 2039, and producing a final report with legislative recommendations by November 2026. If the commission approves its recommendations, the resulting implementing bills would receive expedited consideration in both chambers with limited debate and no amendments allowed. The commission would operate for approximately two years before terminating, with funding provided through existing Senate accounts.