The bipartisan Fiscal Commission Act of 2023 authored by U.S. Representative Bill Huizenga would tackle what he calls an unsustainable debt trajectory. “The commission is made up of 16 commissioners that include 12 members of congress, as well as four private sector experts that are selected by leaders of both the House and the Senate.” The Zeeland Republican explained the commission would be tasked with identifying policies improving the medium-term fiscal situation. “And to achieve a sustainable debt to GDP ratio in the long-term. Importantly, it will put forward solutions to ensure the solvency of our 20-plus trust funds for decades to come.”
The commission would also propose recommendations for balancing the budget. Huizenga says the House and Senate would take an up or down vote on the proposal shortly after the 2024 Presidential election.