11 Feb 2026 BPC Action-Supported Fiscal Policy Bills in the 119th Congress in Economics and Finance
The growing national debt increases costs for consumers, and rising federal interest payments on the debt crowd out both public and private investment. It is critical that Congress tackle the root causes of the debt to stabilize the U.S. economic outlook. The following bipartisan bills align with Bipartisan Policy Center fiscal policy recommendations and are endorsed by BPC Action.
Responsible Budgeting Act (H.R. 1092)
- Reforms how the debt limit is addressed, reducing debt ceiling brinksmanship while strengthening fiscal responsibility by requiring both Congress and the president to consider and openly debate options to tame the debt.
- A recurring, structured process would automatically raise the debt limit if Congress passes a fiscally responsible budget resolution. If Congress does not, the president may start such a process while raising the debt limit.
- Led in the House by Reps. Scott Peters (D-CA), Bill Huizenga (R-MI), Jimmy Panetta (D-CA) and Zachary Nunn (R-IA).
The 3% Resolution (H.Res.981)
- Nonbinding resolution expressing a fiscal goal—that the federal deficit should be reduced to 3% of GDP or lower by no later than 2030—and that the President should submit budgets that meet and sustain that target.
- Led in the House by Reps. Scott Peters (D-CA), Lloyd Smucker (R-PA), Mike Quigley (D-IL), Jodey Arrington (R-TX) and 10 more original cosponsors.
Fiscal Commission Act (H.R. 3289)
- Forms a panel of 12 lawmakers and 4 outside experts, charged with selecting reforms to stabilize the debt and reduce the gap between revenue and spending. Commission-approved proposals receive fast-track consideration in Congress.
- Led in the House by Reps. Bill Huizenga (R-MI) and Scott Peters (D-CA), the bill has 40 House cosponsors in the 119th Congress. It passed the House Budget Committee in 2024, by a vote of 22-12.
Fiscal Contingency Preparedness Act (S.2492 and H.R.4642)
- Directs the Secretary of the Treasury and OMB to produce an annual assessment of the government’s fiscal strength and preparedness to respond to economic downturns, energy crises, and national security threats. Afterward, GAO would conduct an independent review to verify the report’s accuracy and enhance transparency.
- Led in the Senate by Sens. Mark Warner (D-VA) and Todd Young (R-IN) and in the House by Reps. Ben Cline (R-VA), Jared Golden (D-ME), Jack Bergman (R-MI), and Marie Gluesenkamp Perez (D-WA).
National Net Interest is National Security Act (S.2375)
- Directs the Department of Treasury to produce an annual report, in consultation with the Departments of State and Defense, assessing how federal debt and macroeconomic pressures could limit U.S. strategic flexibility and weaken overall national-security capacity. GAO is directed to add debt-related security risks to its High-Risk List.
- Led in the Senate by Sens. Bill Cassidy (R-LA) and Gary Peters (D-MI).
Fiscal State of the Nation Act (H.R.7026)
- Provides for a joint meeting of the Congress to receive a presentation from the Comptroller General on the GAO’s audit of the Executive Branch and the fiscal and financial health of the federal government.
- Led in the House by Reps. Andy Barr (R-KY), Scott Peters (D-CA), and Jimmy Panetta (D-CA).
Improper Payments Transparency Act (H.R.1771 and S.747)
- Requires the inclusion of key data in the President’s annual budget request such as: a description of programs required to submit improper payment reports; a detailed explanation of why any improper payments occurred; trends in improper payment amounts and rates over a three-year period; what corrective actions regarding improper payments are incomplete; and steps agencies will take to address improper payment issues.
- Led in the House by Reps. Rudy Yakym (R-IN), Jimmy Panetta (D-CA), Jack Bergman (R-MI), and Scott Peters (D-CA). Led in the Senate by Sens. Pete Ricketts (R-NE) and Jacky Rosen (D-NV).
