Senator’s bipartisan legislation creates a fiscal commission to bring America’s federal debt to balance GDP ratio and ensure long-term solvency of Medicare and Social Security to protect Arizonans’ retirement and health benefits
WASHINGTON – Arizona senior Senator Kyrsten Sinema joined U.S. Senators Mitt Romney (R-Utah) and Joe Manchin (D-W.Va.) to introduce the Fiscal Stability Act. The Senators’ bipartisan legislation creates a fiscal commission to balance the nation’s federal debt to GDP ratio and strengthen the long-term health of Medicare and Social Security and the benefits hard-working Arizonans have earned.
“Establishing our bipartisan fiscal commission will help balance our budgets, keep government spending lean and responsible, and protect and strengthen the Medicare and Social Security benefits hard-working Arizonans have earned with every paycheck,” said Sinema.
Sinema’s Fiscal Stability Act creates a bipartisan and bicameral Fiscal Commission tasked with balancing America’s federal debt to GDP ratio. The Fiscal Commission would recommend stabilizing the debt-to-GDP ratio at or below 100% in 15 years and improve the solvency of federal trust programs like Social Security and Medicare.
The Fiscal Commission would be composed of 16 members, equally divided by party – 12 current members of Congress and 4 outside experts – appointed by the House Speaker, House Minority Leader, Senate Majority Leader, and Senate Minority Leader. Only the 12 members of Congress in the Commission may vote and final recommendations must have the approval of a bipartisan majority of the 12 elected Commissioners.