{"database": "press", "table": "releases", "rows": [["https://www.king.senate.gov/newsroom/press-releases/king-curtis-colleagues-introduce-bipartisan-bicameral-legislation-to-cut-national-debt-and-strengthen-americas-fiscal-health", "King, Curtis, Colleagues Introduce Bipartisan, Bicameral Legislation to Cut National Debt and Strengthen America\u2019s Fiscal Health", "2026-03-10", "2026", "2026-03", "Independent", "Senate", "ME", "Angus S. King, Jr.", "K000383", "www.king.senate.gov", "angusking", "https://www.king.senate.gov/newsroom/press-releases/table", "scraper", "WASHINGTON, D.C. \u2014 U.S. Senators Angus King (I-ME) and John Curtis (R-UT) are introducing bipartisan legislation to strengthen America\u2019s fiscal health and stabilize the nation\u2019s finances for future generations. The Fiscal Commission Act bill would create a bipartisan, bicameral fiscal commission tasked with finding legislative solutions to stabilize spending and evaluate revenues with the goal of decreasing the national debt. The commission would be required to hold field hearings and complete a public awareness and education campaign on its work.\n\nThe national debt now exceeds $38.8 trillion, which is approximately 124% of the entire U.S. economy. Both parties are responsible\u2014fiscal policies enacted by both Democrats and Republicans have led to soaring annual budget deficits, which totaled $1.7 trillion in calendar year 2025 alone. It\u2019s projected that the federal government will spend more than $1 trillion on interest on the debt alone in 2026, making it a larger expenditure than Medicare and national defense, and second only to Social Security.\n\n\u201cRight now, the national debt breaks down to over $113,000 for every man woman and child in this country \u2013 that\u2019s overwhelming and unsustainable. To add insult to injury, payments on interest alone\u2014just this year\u2014have become a larger source of spending than both Medicare and national defense spending,\u201d said Senator King. \u201cThe Fiscal Commission Act will ensure that our government works in a bipartisan, bicameral manner to find legislative solutions that stabilize spending and decrease the national debt, since both parties dug this hole and we need to work together to get out of it. This bill is an important step forward in fiscal responsibility for future generations and most importantly moves the country in a direction where the government is a more responsible steward of taxpayer dollars.\u201d\n\n\u201cOur national debt has ballooned to over $38 trillion\u2014a staggering figure that threatens higher costs for families, fewer economic opportunities, and a heavier burden for future generations,\u201d said Senator Curtis. \u201cOur children and grandchildren need real reform, which is why we\u2019re introducing the Fiscal Commission Act. This legislation creates a bipartisan, bicameral process to develop meaningful solutions to confront our unsustainable debt, safeguard our economic strength, and ensure fiscal stability well into the future.\u201d\n\nJoining Curtis and King as cosponsors of the legislation are Senators Thom Tillis (R-NC), Chris Coons (D-DE), Todd Young (R-IN), Tim Kaine (D-VA), Bill Cassidy (R-LA), Jeanne Shaheen (D-NH), Kevin Cramer (R-ND), and Mark Warner (D-VA).\n\nMore specifically, the legislation would:\n\nEstablish a 16-member bipartisan, bicameral commission consisting of 12 elected officials and four outside experts.\n\nThe Speaker of the House, House Minority Leader, Senate Majority Leader, and Senate Minority Leader each appoint four individuals to the Commission, of which three must be members from their respective chambers and one must be an outside expert.\n\nRequire that the commission produce a report and propose legislation aiming to improve the long-term fiscal condition of the Federal Government, stabilize the ratio of public debt to GDP within a 15-year period, and improve the solvency of Federal trust funds over a 75-year period.\n\nThe Commission would also be required to vote on approval of the report and legislative language by May 17, 2027.\n\nNecessitate any report or legislative language produced by the Commission be approved by a majority of the 12 elected official members, with at least two being from each party.\n\nIf the Commission approves proposed legislative language, it will receive expedited consideration in both chambers.\n\nEnsure only a simple majority would be needed for the motion to proceed, which would be privileged. However, 60 votes would be required to invoke cloture prior to final passage in the Senate.\n\nCompanion legislation with more than 40 bipartisan cosponsors has also been introduced in the U.S. House of Representatives.\n\nA one-pager on the legislation is available here, and the full bill text is available here.\n\n###", 1, "2026-04-04T05:28:40Z", "2026-04-04T05:30:10Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.king.senate.gov/newsroom/press-releases/king-curtis-colleagues-introduce-bipartisan-bicameral-legislation-to-cut-national-debt-and-strengthen-americas-fiscal-health"], "units": {}, "query_ms": 2.261859830468893, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}