The National Commission on Fiscal Responsibility and Reform held its final public meeting on September 29, but did not disclose any recommendations it may make in its final report expected on December 1.
The panel, known as the National Commission on Fiscal Responsibility and Reform, is charged with making recommendations to Congress by Dec. 1 that would balance the budget, excluding interest payments on existing debt, by 2015 and achieve fiscal sustainability over the long term. The panel will need 14 of 18 members to agree on recommended actions, and these recommendations are non-binding although House and Senate leaders have vowed to vote on the recommendations before the end of the year.
The commission has maintained that everything should be on the table as they craft final recommendations, but members have admitted they don’t know what proposals will draw 14 out of 18 votes, particularly before the mid-term elections shake out. Erskine Bowles, co-chair of the commission and former chief of staff for President Clinton, told BNA last week, “Whatever you know today is going to change dramatically however the election comes out in November.”