Fiscal Stability Act of 2023

The Fiscal Stability Act of 2023 establishes a 16-member Fiscal Commission to develop recommendations for improving the federal government's long-term fiscal health. The commission, appointed by congressional leadership with balanced representation from both parties, must identify policies to achieve a sustainable public debt-to-GDP ratio of 100% by 2039 and ensure solvency of federal trust funds for at least 75 years. The commission must submit a report and implementing bill by May 1, 2025, which Congress would consider under expedited procedures requiring approval by a supermajority of voting members. This bill directly affects federal budget policy by creating a structured process for addressing fiscal challenges, with the commission terminating 30 days after submitting its final recommendations.