(a)
Establishment— Not later than 180 days after each inauguration of a President, there shall be established within the legislative branch a commission to be known as the National Commission on Fiscal Responsibility and Reform (referred to in this section as the Commission).
(b)
Membership— A Commission established under subsection (a) shall be composed of 18 members of whom—
(1)
six members shall be appointed by the President, of whom not more than 4 shall be from the same political party;
(2)
three members shall be appointed by the Majority Leader of the Senate, from among current Members of the Senate;
(3)
three members shall be appointed by the Speaker of the House of Representatives, from among current Members of the House of Representatives;
(4)
three members shall be appointed by the Minority Leader of the Senate, from among current Members of the Senate; and
(5)
three members shall be appointed by the Minority Leader of the House of Representatives, from among current Members of the House of Representatives.
(c)
Co-Chairpersons— From among the members appointed under paragraph (1), the President shall designate 2 members, who shall not be of the same political party, to serve as Co-Chairpersons of the Commission.
(d)
Qualifications— Members appointed to each Commission established under subsection (a) shall have significant depth of experience and responsibilities in matters relating to government service, fiscal policy, economics, Federal agency or private sector management, public administration, and law.
(e)
Duties—
(1)
In general— Each Commission established under subsection (a) shall identify policies to improve the fiscal situation in the medium term and to achieve fiscal sustainability over the long term.
(2)
Requirements— In carrying out paragraph (1), each Commission shall—
(A)
propose recommendations designed to balance the budget, excluding interest payments on the debt, by the end of the 10-year period beginning on the date on which the Commission is established, in order to stabilize the debt-to-GDP ratio at an acceptable level; and
(B)
propose recommendations that meaningfully improve the long-term fiscal outlook, including changes to address the growth of entitlement spending and the gap between the projected revenues and expenditures of the Federal Government.
(f)
Reports—
(1)
In general— Not later than 1 year after the date on which members are appointed under subsection (a) to a Commission, the Commission shall vote on the approval of a final report containing the recommendations required under subsection (e).
(2)
Approval of report— Each Commission may only issue a final report if the final report is approved by not less than 12 members of the Commission.
(3)
Submission of report to Congress— A final report approved under this subsection shall be submitted to Congress and made available to the public.
(g)
Powers of the Commission—
(1)
Hearings— Each Commission may hold such hearings, sit and act at such times and places, take such testimony, and receive such evidence as the Commission considers advisable to carry out the duties of the Commission described in subsection (e).
(2)
Information from Federal agencies— Each Commission may secure directly from any Federal department or agency such information as the Commission considers necessary to carry out the duties of the Commission described in subsection (e). Upon request from the Co-Chairpersons of a Commission, the head of a department or agency shall provide the information requested to the Commission.
(3)
Postal services— Each Commission may use the United States mails in the same manner and under the same conditions as other departments and agencies of the Federal Government.
(4)
Website— Each Commission shall establish a website that shall contain—
(A)
the recommendations required under subsection (e); and
(B)
the records of attendance of the members of the Commission for each meeting of the Commission.
(h)
GAO assistance— The Comptroller General of the United States shall provide technical assistance to each Commission, as each Commission conducts the work of the Commission, on the findings and recommendations of the Government Accountability Office.
(i)
CBO assistance— The Director of the Congressional Budget Office shall provide technical assistance to each Commission, as each Commission conducts the work of the Commission, on the findings and recommendations of the Congressional Budget Office.
(j)
Personnel matters—
(1)
In general— Members of each Commission shall serve without any additional compensation.
(2)
Travel expenses— Members of each Commission shall be allows travel expenses, including per diem in lieu of subsistence, as rates authorized for employees of agencies under subchapter I of chapter 57 of title 5, United States Code, while away from their homes or regular places of business in the performance of services for the Commission.
(3)
Staff—
(A)
In general— The Co-Chairpersons of each Commission, may without regard to the civil service laws and regulations, appoint and terminate an executive director and such other additional personnel as may be necessary to enable the Commission to perform its duties. The employment of an executive director shall be subject to confirmation by the Commission.
(B)
Compensation— The Co-Chairpersons of each Commission may fix the compensation of the executive director and other personnel without regard to the provisions of chapter 51 and subchapter III of chapter 53 of title 5, United States Code, relating to the classification of positions and General Schedule pay rates, except that the rate of pay for the executive director and other personnel may not exceed the rate payable for level V of the Executive Schedule under section 5613 of such title.
(4)
Detail of Government employees— Any Federal Government employee may be detailed to a Commission established under subsection (a) without reimbursement, and such detail shall be without interruption or loss of civil service status or privilege.
(5)
Procurement of temporary and intermittent services— The Co-Chairpersons of each Commission may procure temporary and intermittent services under section 3109(b) of title 5, United States Code, at rates for individuals which do not exceed the daily equivalent of the annual rate of basic pay prescribed for level V of the Executive Schedule under section 5316 of such title.
(k)
Termination of the Commission— Each Commission established under subsection (a) shall terminate 30 days after the date on which the Commission submits the final report of the Commission under subsection (f).
(l)
Rules of construction— Nothing in this Act shall be construed to—
(1)
impair or otherwise affect—
(A)
authority granted by law to an executive department, agency, or the head thereof; or
(B)
functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals; or
(2)
create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
(m)
Authorization of appropriations—
(1)
In general— There are authorized to be appropriated to each Commission established under this Act such sums as may be necessary to carry out this Act.
(2)
Availability— Any sums appropriated under paragraph (1) shall remain available, without fiscal year limitation, until expended.