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Fiscal Commission

All articles tagged with #fiscal commission

politics2 years ago•1 min saved

"Rep. Golden Urges Long-Term Government Budget Solution"

Congressman Jared Golden (D-Maine) has joined bipartisan lawmakers in calling for a longer-term plan to address the nation's spending and debt, advocating for a "fiscal commission" to develop a bipartisan solution. The recent "continuing resolution" passed by the House and Senate provides a temporary budget patch funding the government at current levels into early March, but Golden emphasizes the need for a more sustainable approach to prevent short-term funding fights and address the national debt.

via WGME|

#bipartisan-lawmakers #fiscal-commission #government-budget

politics2 years ago•3 min saved

"Romney and Manchin Propose Commission to Stabilize US Debt"

Senators Mitt Romney and Joe Manchin have introduced a bill to create a bipartisan commission aimed at stabilizing the US national debt. The proposed commission, consisting of lawmakers and outside experts, would produce a report by May 2025 outlining specific steps to stabilize the debt-to-GDP ratio and improve federal trust fund solvency. The bill has garnered support from a group of senators across party lines. Critics argue that a debt commission is unnecessary and could jeopardize programs like Social Security, while fiscal conservatives see it as an opportunity to address the country's fiscal challenges.

via Yahoo Finance|

#bipartisan #fiscal-commission #national-finances

politics2 years ago•5 min saved

"Romney and Manchin Propose Commission to Tackle US National Debt Crisis"

Senators Mitt Romney and Joe Manchin have introduced the Fiscal Stability Act, a bipartisan solution to address America's growing national debt. The legislation proposes the creation of a bicameral fiscal commission tasked with finding legislative solutions to stabilize and decrease the national debt, which currently exceeds $33.6 trillion. The bill has garnered support from several senators across party lines and is a companion to the House's bipartisan Fiscal Commission Act. The proposed commission aims to identify comprehensive solutions to bring the nation back to a sustainable fiscal outlook and protect future generations from the burden of debt.

via Mitt Romney|

#bipartisan #fiscal-commission #fiscal-stability-act

economy2 years ago•1 min saved

US National Debt Surpasses $32 Trillion Mark.

The US national debt has exceeded $32 trillion for the first time ever, two weeks after President Biden signed legislation to suspend the nation’s borrowing limit through the end of 2024. Despite $1.5 trillion in spending cuts over the next decade, America’s gross national debt is still projected to exceed $50 trillion by 2033. The Peterson Foundation recommends establishing a bipartisan fiscal commission to look at all parts of the budget for cuts.

via New York Post |

#borrowing-limit #economy #fiscal-commission

politics2 years ago•5 min saved

Centrists propose backup plan as Biden and GOP clash over debt limit.

The Problem Solvers Caucus, a group of 64 moderate lawmakers split evenly between the parties, has proposed a short- and long-term budget strategy to prevent a government default later in the year if the debt ceiling battle between President Biden and Speaker Kevin McCarthy fails. The proposal includes a suspension of the debt limit through the end of the calendar year and the creation of an outside commission designed to rein in deficit spending and reduce the country’s $31.5 trillion debt over the long haul. The group's plan is not meant to encroach on the current negotiations, but it merely represents a backstop in the event those talks falter.

via The Hill|

#bipartisan #debt-ceiling #deficit-spending