SAFE Commission Act

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) hold at least one town-hall style public hearing within each federal reserve district; and (2) develop one or two methods for estimating the cost of legislation as a supplement to the estimates and assumptions provided by the Congressional Budget Office (CBO). Requires the Commission to submit a legislative proposal to Congress and the President that relies on such estimates and assumptions. 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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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 14 May 2009

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 14 May 2009

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• Introduced in Senate

  summary · EN · 14 May 2009

  Open at official source

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