Cassidy Introduces Bill to Address America’s Debt

WASHINGTON - U.S. Senator Bill Cassidy, M.D. (R-LA) introduced the Fiscal Commission Actto establish a commission that would address our nation's debt and provide a better future for our children.

"If Louisiana families have to budget, so should the federal government," said Dr. Cassidy. "We're addressing this to protect our economy today and make sure our kids aren't stuck with the bill."

Cassidy was joined by U.S. Senators John Curtis (R-UT), Thom Tillis (R-NC), Todd Young (R-IN), Angus King (I-ME), Chris Coons (D-DE), Tim Kaine (D-VA), Jeanne Shaheen (D-NH), Mark Warner (D-VA) in introducing the Fiscal Commission Act.

BACKGROUND

Under this legislation, a Fiscal Commission would be established to educate the American public on the escalating risk of our national debt while charting a course for the United States to stabilize its debt-to-GDP ratio below 100% by 2039. The commission would consist of 12 members of Congress and 4 outside experts. The commission would be required to submit a report to Congress by November 13, 2026, with an option to extend the deadline to April 13, 2026. Upon the commission completing its recommendations, each chamber of Congress would be required to vote on passing or rejecting said recommendations without amendment.

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