Lawmakers Call for a Bipartisan Fiscal Commission

The Problem Solvers Caucus (PSC) announced its Fiscal Stability Framework last week, which sounds the alarm about the national debt, endorses two bipartisan fiscal commission bills, and urges the House Budget Committee to advance the bipartisan fiscal commission proposals.

The PSC’s Fiscal Stability Framework calls for action to restore our nation’s fiscal stability. The national debt today is roughly the same size as our economy. Interest payments on that debt were $970 billion in Fiscal Year (FY) 2025 – nearly three times as large as they were five years ago and more than what the United States spends on defense and Medicaid. Over the coming decade, federal budget deficits are projected to average $2 trillion a year, or roughly 6% of Gross Domestic Product (GDP).

In order to get the nation on a more sustainable fiscal path, the Fiscal Stability Framework endorses two bipartisan fiscal commission proposals: the Fiscal Commission Act – sponsored by Representatives Bill Huizenga (R-MI) and Scott Peters (D-CA) – and the Sustainable Budget Act – sponsored by Representatives Ed Case (D-HI) and Steve Womack (R-AR). Both are promising proposals led by members of the Bipartisan Fiscal Forum and have seen their support grow since their original introduction. For example, the Fiscal Commission Act doubled the number of original cosponsors upon introduction this Congress compared to last Congress.

As we have written before, a commission would help to address our country’s mounting fiscal challenges, providing a venue for lawmakers to discuss the issue and develop bipartisan solutions. While a commission’s recommendations are not always adopted, many commissions have been successful in developing “off the shelf” policy solutions, advancing bipartisan discussions, and/or raising awareness of an issue.

Lastly, the Fiscal Stability Framework calls on the House Budget Committee to advance the Fiscal Commission Act, Sustainable Budget Act, and other legislative proposals to create a fiscal commission.

In 2024, the House Budget Committee successfully advanced the Fiscal Commission Act out of committee with bipartisan support. Prior to the bill's markup, the Budget Committee held two hearings on the topic.

Below is the full Fiscal Stability Framework:

• With national debt and debt-to-GDP at record levels and annual interest on the debt now exceeding even defense, we must act now to restore fiscal stability.
• We endorse a bipartisan, inclusive fiscal commission to deliberate and provide Congress with clear options to do so.
• We endorse H.R.3289, the Fiscal Commission Act, and H.R.222, the Sustainable Budget Act, as vehicles to advance fiscal stability.
• We urge the Committee on the Budget to hear and advance H.R.222 and H.R.3289 and other legislative proposals to create a fiscal commission and otherwise pursue fiscal stability.

Maya MacGuineas, president of the Committee for a Responsible Federal Budget, praised the Problem Solvers Caucus’s Fiscal Stability Framework announcement:

The nation’s fiscal outlook is deteriorating, and ignoring the problem only makes the situation harder to solve. Addressing our growing debt will not be easy, but a bipartisan fiscal commission would create a forum for serious, cross-party dialogue and help pave the way toward a more sustainable fiscal future. We commend the Problem Solvers Caucus for recognizing the urgency of the moment and putting forward a Fiscal Stability Framework that recognizes the debt as a serious threat and calls for the creation of a bipartisan fiscal commission.

The PSC deserves credit for supporting common-sense proposals to address our debt. We look forward to their future work on fiscal responsibility.