In a time of polarization, partisanship, and unprecedented levels of debt, a fiscal policy proposal offers a path to bridge the divide. Representatives Bill Huizenga (R-MI) and Scott Peters (D-CA) jointly introduced the Bipartisan Fiscal Commission Act (H.R. 3289) to bring members from both parties, along with outside experts, to the table to develop bipartisan solutions to the nation’s long-term fiscal challenges.
For too long, Washington has relied on short-term budgeting: enacting continuing resolutions, boosting spending across the board, and borrowing to cover the cost. As a result, current federal outlays are $7 trillion – 23 percent of GDP – and this year’s budget deficit is projected to reach $1.9 trillion. Debt held by the public now equals the size of the entire U.S. economy. According to the Congressional Budget Office, that figure is projected to reach 118% of GDP within a decade. These unsustainable policies are shifting an ever-growing burden onto future generations.
To build consensus on long-term solutions to the nation’s fiscal trajectory, Reps. Huizenga and Peters propose to establish a bipartisan fiscal commission. The commission would be tasked with recommending policy changes to reduce the deficit and debt, improve the solvency of major trust fund programs, and help stabilize the debt-to-GDP ratio below 100 percent by 2039. It would also lead a national public awareness campaign to highlight the risks of America’s growing debt. As CBO has warned, America’s growing national debt crowds out private investment, increases the amount of interest the federal government has to pay out on a regular basis, and the federal government is at greater risk of a fiscal crisis due to a lack of investor confidence in government bonds.
The proposed commission would consist of 16 members: 12 from Congress (3 appointed by each chamber’s party leaders) and 4 non-voting outside experts. Any recommendation must be approved by a bipartisan majority that includes at least two Republicans and two Democrats.
After the commission finalizes its recommendations, they would receive an expedited vote on the floor of both houses and would receive an up-or-down vote with limited debate and no amendments allowed. While previous commissions have not always led to immediate policy changes, they raise awareness and foster dialogue to address major problems. If successful, the Fiscal Commission would help lower and stabilize the debt as a share of GDP, improve congressional oversight of fiscal policy, and ensure that meaningful spending cuts and proposals can get a fair vote.
In a joint statement on the need for fiscal reform, the sponsors emphasized the urgency of addressing the national debt. Huizenga commented, “Our bipartisan Fiscal Commission Act is the most practical, immediate, and comprehensive action Congress can take right now to end our nation’s deepening fiscal crisis. Peters added, “Our accelerating fiscal crisis threatens to bankrupt our children’s future. Congress has been too timid or too afraid to act, but kicking the can down the road only makes solving this problem more costly and painful. ‘Regular order and the status quo have not worked for the last twenty years, we owe it to the American people to do something different.”
Although the Bipartisan Fiscal Commission Act advanced out of the House Budget Committee in 2024, it did not receive a full vote in the House or Senate. Since then, the debt has only worsened, and the need for solutions has become even stronger. The Huizenga and Peters Fiscal Commission Act offers a serious, practical, and necessary step forward to restoring fiscal sustainability. Congress should seize this opportunity to act before the challenges become even more difficult—and more costly—to solve.