National Commission on Fiscal Responsibility and Reform
Headline: Creates Commission to Recommend Balancing the Federal Budget
What it does: Establishes a presidential commission to develop recommendations to balance the federal budget excluding interest by 2015.
- Creates an 18-member commission to study federal finances and recommend changes.
- Requires a final report approved by at least 14 members by December 1, 2010.
- Directs recommendations to balance the budget excluding interest and address entitlement growth.
Summary
This order establishes the National Commission on Fiscal Responsibility and Reform inside the White House to study the federal government's finances and propose policy recommendations.
The 18-member commission must produce a final report approved by at least 14 members by December 1, 2010, and is tasked to propose recommendations to balance the budget excluding interest by 2015 and to address long-term issues like growing entitlement spending and projected revenue shortfalls.
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