On Sunday, Townhall reported that the House Budget Committee passed three bills out of committee with bi-partisan support. That is good news. Now if we could just close the border, we would have it made.
The article reports:
The Fiscal State of the Nation Act (H.R. 6952) was passed with strong bipartisan support on a voice vote and without amendments. That bill will require the Comptroller General of the United States, a position I held from 1998-2008, to provide an in-person annual report on the country’s financial condition and fiscal outlook of the country to a joint session of Congress.
The Debt to GDP Transparency and Stabilization Act (HR 6957) passed without amendment with a 22-12 bipartisan vote. That bill will require the President’s annual budget submission to provide information on the current state and projected outlook of federal debt/GDP based on the President’s proposed budget.
The Fiscal Commission Act (H.R. 5779) was the most important piece of legislation and was the subject of a vast majority of the markup session. It would establish a sixteen-person statutory commission that would, among other things, educate and engage the American people on our nation’s financial and fiscal challenges. Twelve of the commission members would be sitting members of Congress equally divided between the House and Senate and each major party. These twelve would be the voting members. Four of the commission members would be fiscal experts who would not have a vote. After receiving input and deliberating various options, the commission would make a package of fiscal reform recommendations designed to stabilize debt/GDP at no more than 100% within ten years and ensure the long-term solvency of various trust funds. Everything would be on the table – discretionary, mandatory, and revenues. If a majority of the commission’s voting members recommend a package of reforms with bipartisan support, it would receive an expedited vote in both houses of Congress and only require a simple majority vote in both houses for passage. The commission would issue its report in December 2024 or, depending on the final passage of the Fiscal Commission Act, no later than May 2025.
Fiscal responsibility should be a bi-partisan effort. The inflation cased by our bloated federal spending impacts all of us either directly or indirectly. The plan proposed years ago to take one penny away from every dollar spent by the federal government still has validity. Someone simply has to have the courage to stand up and demand budget cuts.