House Budget Committee Approves Controversial Fiscal Commission Act

Bipartisan commission tasked with addressing $34 trillion national debt faces criticism over potential cuts to Social Security and Medicare.

The House Budget Committee has approved a bill to create a bipartisan fiscal commission to address the rising national debt, which currently stands at over $34 trillion.
The proposed Fiscal Commission Act has sparked controversy, with critics warning it could lead to cuts in Social Security and Medicare.
The commission would consist of 16 members, including 12 from both parties and chambers of Congress, and four outside experts who would not have voting power.
The commission's task would be to balance the federal budget 'at the earliest reasonable date,' stabilize the nation's debt-to-GDP ratio at or below 100% within 10 years, and propose plans to improve the long-term outlook for Social Security and Medicare.
Despite opposition, the bill has received bipartisan support, with three Democrats joining Republicans to vote in favor.