November 13, 2023

What the Experts Are Saying About a Bipartisan Fiscal Commission

The Peterson Foundation asked a group of respected policy experts from across the political spectrum to share their views on the benefits of a fiscal commission, how a commission should be structured, and what policies could be included in a bipartisan package to stabilize the debt.

Here’s what they said:

  • The experts unanimously agree that the time is right for a fiscal commission to cut through political dysfunction and address our $33 trillion and rising national debt.
  • A commission’s makeup should be bipartisan, and comprised of members with a demonstrated commitment to working across the aisle and finding compromise.
  • A commission should look at all parts of the budget to craft a balanced package of spending and revenue reforms to reduce the deficit.
  • A commission should seek public engagement to help lend political support to its work.
  • Buy-in from Congressional leadership and the administration is critically important.
  • There should be a defined timeline for a commission’s work, and a process for expedited consideration of its recommendations — e.g., a required vote in Congress.
  • Experts recommended dozens of deficit reducing policy options for a commission to include, totaling trillions in savings and spanning mandatory and discretionary spending as well as the tax code.

Read the papers:

Related: With U.S. Interest Costs Skyrocketing, Voters Overwhelmingly Call for Fiscal Commission

Image credit: Photo by Ken Howard/Getty Images


Expert Views: Fiscal Commission

We asked experts with diverse views from across the political spectrum to share their perspectives.

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