H.R.3654 - SAFE Commission Act

To establish a commission to develop legislation designed to reform tax policy and entitlement benefit programs and ensure a sound fiscal future for the United States, and for other purposes. view all titles (3)

All Bill Titles

  • Short: SAFE Commission Act as introduced.
  • Short: Securing America's Future Economy Commission Act as introduced.
  • Official: To establish a commission to develop legislation designed to reform tax policy and entitlement benefit programs and ensure a sound fiscal future for the United States, and for other purposes. as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
09/25/07
 
 
 
 
 
 
 

Sponsor

Representative

Jim Cooper

D-TN

View Co-Sponsors (112)

Official Summary

Securing America's Future Economy Commission Act, or SAFE Commission Act - Establishes the Securing America's Future Economy (SAFE) Commission to develop legislation designed to address: (1) the unsustainable imbalance between long-term federal spending commitments and projected r

Official Summary

Securing America's Future Economy Commission Act, or SAFE Commission Act - Establishes the Securing America's Future Economy (SAFE) Commission to develop legislation designed to address:
(1) the unsustainable imbalance between long-term federal spending commitments and projected revenues;
(2) increases in net national savings to provide for domestic investment and economic growth;
(3) the implications of foreign ownership of federally issued debt instruments; and
(4) revision of the budget process to place greater emphasis on long-term fiscal issues. Requires the Commission to:
(1) develop one or two methods for estimating the cost of legislation as an alternative to the current Congressional Budget Office (CBO) method; and
(2) hold at least one town-hall style public hearing within each federal reserve district. Requires the Commission to submit a legislative proposal to Congress and the President. Authorizes the President to submit to Congress an alternative proposal. Authorizes the Committee on the Budget of either chamber to publish its own alternative proposal in the Congressional Record. Sets forth procedures for consideration of such legislation. Requires CBO to prepare a long-term cost estimate and have it published in the Congressional Record as expeditiously as possible whenever requested to do so by the Commission, the President, or the chairman or ranking minority member of the Committee on the Budget of either chamber.

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