Bill > S743

This bill establishes the National Commission on Fiscal Responsibility and Reform, a bipartisan commission tasked with identifying policies to improve the fiscal situation of the federal government in the medium term and achieve fiscal sustainability in the long term. The commission is required to propose recommendations to balance the federal budget, excluding interest payments, within 10 years and meaningfully improve the long-term fiscal outlook, including addressing the growth of entitlement spending. The bill outlines the commission's composition, duties, and procedures for submitting reports and a proposed joint resolution to Congress. It also provides for expedited consideration of the proposed joint resolution in the House and Senate.