Bipartisan Fiscal Deficit Commission
The National Commission on Fiscal Responsibility and Reform failed to reach the 14 votes necessary to move its deficit-reduction proposal to Congress, with a final tally of 11 member votes in support and 7 votes against. While the proposal's defeat was anticipated given deep concerns over recommended tax increases and spending cuts, the commission's efforts have highlighted the importance of finding solutions to address the the nation's growing deficits.
Commission Proposal:
Background - National Commission on Fiscal Responsibility and Reform:
President Obama signed an executive order February 18, 2010 to
establish the National Commission on Fiscal Responsibility and Reform.
The bipartisan commission is charged with making recommendations to
Congress to adopt policies that will help bring the budget closer to
balance and restore fiscal stability.
- National Commission on Fiscal
Responsibility and Reform website
- Contact the National Commission on Fiscal Responsibility and Reform
The commission is:
- Co-chaired by former White House Chief of Staff Erskine Bowles and former Senator Alan Simpson (R-WY)
- Comprised of 18 appointed members
- 12 appointed by Congress (3 each per party per chamber) – appointees must be sitting members of Congress
- 6 appointed by the President (No more than 4 may be from the same party)
- Expected to release initial recommendations to Congress no later than December 1, 2010
- 14 of 18 commission members must agree on budget recommendations before they can be submitted
