This Act creates the Commission on Long-Term Social Security Solvency in the legislative branch. The commission will have 13 members appointed by the President and leaders of both chambers and key tax and benefits committees. Appointments must be made within 30 days of enactment. The commission must meet within 30 days after appointments and must send Congress a special message within 1 year of its first meeting. That message must include recommendations and proposed legislation that would make the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund solvent for at least 75 years starting one year after the commission’s initial meeting. At least 9 commissioners must approve the message.
The President’s appointee serves as chair and the Speaker’s designee serves as co-chair. The commission must hold at least one public hearing and may get information from federal agencies, including the Congressional Budget Office and the Government Accountability Office. It may hire staff, contract for services, accept gifts, and use the mails. Members serve without pay but may receive travel expenses. The commission terminates no later than 60 days after it files its report. The Act authorizes up to $2,000,000 to carry out the commission’s work.
The Act also creates an "approval bill" process for Congress to consider the commission’s proposed legislation quickly. The majority leader in each chamber must introduce the approval bill within three days after receiving the commission’s special message. Committees must report the approval bill within short deadlines, floor debate is limited, amendments are prohibited, and specific timing rules apply in both the House and the Senate.
No publicly available information.
No publicly available information.