08 Jul 2026 Fact Sheet: The Fiscal Commission Act in Economics and Finance
The Fiscal Commission Act is led in the Senate by Sens. John Curtis (R-UT) and Angus King (I-ME) and in the House by Reps. Bill Huizenga (R-MI) and Scott Peters (D-CA) and aims to address the growing national debt and put the U.S. on a more sustainable fiscal path.
The National Debt Problem
America’s fiscal health is increasingly dire. Debt held by the public now exceeds the size of our economy and continues to rise. The major drivers of spending growth, including Medicare, Social Security, and interest on the debt, are projected to continue increasing, while revenue is not keeping pace. Growing debt contributes to rising interest rates and inflation, making it harder for Americans to afford necessities and more expensive for businesses to grow and invest. Left unchecked, interest payments on past debts will increasingly dominate the federal fiscal picture rather than future-oriented investments in American families and public policy priorities.
Solution: The Fiscal Commission Act
The Fiscal Commission Act (H.R. 3289/S. 4012) offers a roadmap to get our fiscal house in order. It will establish a commission to identify, develop, and propose policy recommendations to improve the U.S. fiscal condition, achieve a sustainable debt-to-GDP ratio of no more than 100%, and improve the solvency of federal trust funds, including those for Social Security and Medicare.
The commission will be made up of bipartisan, bicameral members of Congress and nonvoting outside experts who will work across party lines to produce concrete policy solutions and legislative language aimed at putting the U.S. on a more sustainable fiscal path.
Pathway to Progress
The Fiscal Commission is structured to give its proposals the best possible chance of success. The commission is required to hold hearings on its work, gathering important feedback from stakeholders both in government and throughout the nation to strengthen its products. The commission is also required to make public its report and any legislation it produces before submission to Congress. Finally, the commission’s legislative proposals will receive expedited, privileged consideration in both chambers to ensure a floor vote.
Supporting Members and Organizations
Senate (10): John Curtis (R-UT), Angus King (I-ME), Bill Cassidy (R-LA), Chris Coons (D-DE), Kevin Cramer (R-ND), Tim Kaine (D-VA), Thom Tillis (R-NC), Jeanne Shaheen (D-NH), Todd Young (R-IN), and Mark Warner (D-VA).
House (43): Bill Huizenga (R-MI), Scott Peters (D-CA), Andy Barr (R-KY), Don Beyer (D-VA), Jack Bergman (R-MI), Sanford Bishop (D-GA), Chuck Edwards (R-NC), Ed Case (D-HI), Brad Finstad (R-MN), Herbert Conaway (D-NJ), Brian Fitzpatrick (R-PA), Henry Cuellar (D-TX), Glenn Grothman (R-WI), Don Davis (D-NC), French Hill (R-AR), Marie Gluesenkamp Perez (D-WA), Erin Houchin (R-IN), Jared Golden (D-ME), Dusty Johnson (R-SD), Adam Gray (D-CA), Cory Mills (R-FL), Chrissy Houlahan (D-PA), John Moolenaar (R-MI), Greg Landsman (D-OH), Blake Moore (R-UT), Kristen McDonald Rivet (D-MI), Jay Obernolte (R-CA), Jared Moskowitz (D-FL), David Rouzer (R-NC), Jimmy Panetta (D-CA), David Schweikert (R-AZ), Mike Quigley (D-IL), Adrian Smith (R-NE), Bradley Schneider (D-IL), Lloyd Smucker (R-PA), Hillary Scholten (D-MI), Victoria Spartz (R-IN), Thomas Suozzi (D-NY), William Timmons (R-SC), Mike Thompson (D-CA), David Valadao (R-CA), Marc Veasey (D-TX), and Rudy Yakym (R-IN).
The Fiscal Commission Act is supported by BPC Action, Americans for Prosperity, the Cato Institute, the Committee for a Responsible Federal Budget, Concord Action, the Peterson Foundation, the Progressive Policy Institute, and Third Way.
