Bill would establish commission to reform spending, reduce deficits

WASHINGTON, DC – Today, Congressman Mike Michaud joined his fellow colleagues in the fiscally conservative Blue Dog Coalition to push for House passage of a bipartisan bill that they introduced that sets a timeline for Congress to act on the nation’s long-term fiscal crisis.  The bill, the Securing America’s Future Economy (SAFE) Commission Act (H.R. 1557), which creates a BRAC-style commission to reform the nation’s spending and taxes, was introduced in March and currently has 100 cosponsors, 52 Democrats and 48 Republicans.

“Years of record deficits and the worst financial crisis since the Great Depression have put our nation’s fiscal health in danger,” said Michaud.  “Our government is running at a pace that is unsustainable and it’s long past time that Congress acted to address it.  Given our current record debt, I can think of no better time to pursue legislation that will address the long term fiscal health of our country. I will continue working with my colleagues in both political parties in Congress to support balanced budgets and fiscal policies that prevent further burdening our future generations.”

The bill would create a 16-member panel comprised of the White House OMB Director and Treasury Secretary; four members appointed by the Senate Majority Leader and four appointed by the Speaker of the House; three appointed by the House Minority Leader and three appointed by the Senate Minority Leader. No more than four Members of Congress could sit on the commission. It would be tasked with holding public meetings around the country and then submitting a report that balances long-term spending and revenue scenarios for the nation. If Congressional leaders fail to introduce their own proposal, the SAFE Commission’s legislative proposal is automatically brought to the House floor. If passed, it is sent to the Senate for similarly expedited consideration.  A more detailed description of the legislation can be found here.

The Blue Dog Coalition was formed in 1995 with the goal of representing the center of the House of Representatives and appealing to the mainstream values of the American public.  The Blue Dogs are dedicated to a core set of beliefs that transcend partisan politics, including a deep commitment to the financial stability and security of the United States.  Currently there are 52 members of the Blue Dog Coalition.  For more information, visit the Blue Dog Website at http://www.house.gov/melancon/BlueDogs/.