Congress is moving closer to establishing a bipartisan commission to tackle the ballooning $34 trillion national debt.
The Republican-led House Budget Committee voted 22-12 to create a 16-member commission and submit fiscal policy recommendations. The panel would consist of six Republican and six Democratic lawmakers and four outside experts without any voting power.
The commission would assess measures to balance the federal budget as early as possible. It would propose mechanisms to bolster the long-term solvency of various programs, particularly Medicare and Social Security. The commission would also be mandated to hold six hearings nationwide and submit a final report with recommendations by May 2025….
