[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8135 Introduced in House (IH)]

<DOC>






119th CONGRESS
  2d Session
                                H. R. 8135

  To declare an emergency regarding the cost of living in the United 
  States and direct actions to be taken to address the cost-of-living 
                   emergency, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 27, 2026

 Mr. Deluzio introduced the following bill; which was referred to the 
 Committee on Financial Services, and in addition to the Committees on 
   Education and Workforce, Energy and Commerce, the Judiciary, the 
 Budget, and Rules, for a period to be subsequently determined by the 
  Speaker, in each case for consideration of such provisions as fall 
           within the jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
  To declare an emergency regarding the cost of living in the United 
  States and direct actions to be taken to address the cost-of-living 
                   emergency, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Cost-of-living Emergency Act''.

SEC. 2. DEFINITIONS.

    In this Act:
            (1) Average u.s. household.--The term ``average U.S. 
        household'' means a household in the United States earning less 
        than the median household income for the prior year, as 
        determined by the United States Census Bureau.
            (2) Basic household necessities.--The term ``basic 
        household necessities'' includes the following expenditures, as 
        defined by the Bureau of Labor Statistics on January 1, 2026:
                    (A) Food at home.
                    (B) Owned dwellings.
                    (C) Rented dwellings.
                    (D) Gasoline and other fuels.
                    (E) Medical services.
                    (F) Utilities, fuels, and public services.
            (3) Co-chair.--The term ``co-chair'' means an individual 
        appointed to serve as a co-chair of the Commission under 
        section 8(a)(3)(B).
            (4) Commission.--The term ``Commission'' means the Cost-of-
        Living Commission established under section 8(a)(1).
            (5) Council.--The term ``Council'' means the Council of 
        Economic Advisers established under section 10 of the 
        Employment Act of 1946 (15 U.S.C. 1023).
            (6) Large corporation.--The term ``large corporation'' 
        means any business that is not a small business concern, as 
        defined in section 3 of the Small Business Act (15 U.S.C. 632).
            (7) Outside expert.--The term ``outside expert'' means an 
        individual who is not an elected official or an officer or 
        employee of the Federal Government or of any State.
            (8) Special advisor.--The term ``Special Advisor'' means 
        any individual appointed to the role of Special Advisor to the 
        President under section 4(3)(A).
            (9) State.--The term ``State'' means a State, the District 
        of Columbia, the Commonwealth of Puerto Rico, and any other 
        territory or possession of the United States.

SEC. 3. DECLARATION OF EMERGENCY WITH RESPECT TO COST OF LIVING.

    (a) Declaration.--There is hereby declared an emergency with 
respect to the high cost of living facing the people of the United 
States.
    (b) Termination.--
            (1) In general.--Except as provided by paragraph (2), the 
        emergency declared under subsection (a) shall terminate on the 
        date that is 180 days after the date of the enactment of this 
        Act.
            (2) Extension.--The emergency declared under subsection (a) 
        may continue after the date described in paragraph (1) if there 
        is enacted into law a joint resolution extending the emergency.
            (3) Expedited procedures.--A joint resolution described in 
        paragraph (2) shall be considered in accordance with the 
        procedures set forth in section 202(c) of the National 
        Emergencies Act (50 U.S.C. 1622(c)).

SEC. 4. ACTIONS TO BE TAKEN BY THE COUNCIL OF ECONOMIC ADVISERS DURING 
              A COST-OF-LIVING EMERGENCY.

    During the period that the emergency declared under section 3 is in 
effect, the President, acting through the Chair of the Council, shall 
undertake the following actions:
            (1) Updated advisory mandate.--In carrying out the duties 
        described in section 10(c) of the Employment Act of 1946 (15 
        U.S.C. 1023(c)), the Council shall prioritize economic analysis 
        and advice addressing the following subjects:
                    (A) The affordability of basic household 
                necessities.
                    (B) The economic pressures impacting low- and 
                middle-income families.
                    (C) The distributional consequences of Federal 
                economic policy.
            (2) Establishment of white house cost cutting council.--Not 
        later than 7 days after the date of enactment of this Act, the 
        Chair of the Council shall establish within the Council a White 
        House Cost Cutting Council that shall be responsible for 
        coordinating whole of Government efforts to reduce the costs of 
        basic household necessities.
            (3) Designation of personnel.--
                    (A) In general.--Pursuant to the authority under 
                section 10(b) of the Employment Act of 1946 (15 U.S.C. 
                1023(b)), the Chair of the Council shall appoint 
                personnel to serve in the following roles:
                            (i) Special Advisor to the President for 
                        Grocery Costs, who shall serve as the principal 
                        advisor to the President for all issues 
                        relating to the costs of food at home in the 
                        United States.
                            (ii) Special Advisor to the President for 
                        Housing Costs, who shall serve as the principal 
                        advisor to the President for all issues 
                        relating to the costs of owned or rented 
                        dwellings for individuals in the United States.
                            (iii) Special Advisor to the President for 
                        Utility Costs, who shall serve as the principal 
                        advisor to the President for all issues 
                        relating to the cost of utilities, fuels, and 
                        public services for individuals in the United 
                        States.
                            (iv) Special Advisor to the President for 
                        Health Care Costs, who shall serve as the 
                        principal advisor to the President for all 
                        issues relating to the cost of health 
                        insurance, health care services, and 
                        medications for individuals in the United 
                        States.
                            (v) Special Advisor to the President for 
                        Transportation Costs, who shall serve as the 
                        principal advisor to the President for all 
                        issues relating to--
                                    (I) the cost of gasoline and other 
                                transportation fuels for individuals in 
                                the United States;
                                    (II) costs associated with owning 
                                or leasing a personal vehicle for 
                                individuals in the United States; and
                                    (III) other costs relating to 
                                transportation to or from work, school, 
                                or other essential activities for 
                                individuals in the United States.
                            (vi) Special Advisor to the President for 
                        Wages, who shall serve as the principal advisor 
                        to the President for all issues relating to 
                        wages of individuals in the United States.
                    (B) Duties.--Each Special Advisor appointed to a 
                role under subparagraph (A) shall carry out the 
                following duties:
                            (i) Assemble and lead a task force to be 
                        made up of members of the Cabinet (or the 
                        designees of such members), the heads of 
                        independent regulatory agencies, as defined in 
                        section 3502 of title 44, United States Code, 
                        and other senior executive branch officials who 
                        shall meet not less frequently than weekly to 
                        discuss actions that may be taken to reduce the 
                        costs of the goods and services and strengthen 
                        household wages within the purview of the 
                        Special Advisor.
                            (ii) Prepare a weekly report to be 
                        distributed to the President, Vice President, 
                        the Chief of Staff to the President, the 
                        Director of the Office of Management and 
                        Budget, each member of the Cabinet, and other 
                        senior employees serving in the Executive 
                        Office of the President that--
                                    (I) provides details on the costs 
                                of goods and services within the 
                                purview of the Special Advisor; and
                                    (II) identifies actions that may be 
                                taken to lower those costs.
                            (iii) Host regional listening sessions 
                        focused on the costs of the goods and services 
                        within the purview of the Special Advisor 
                        that--
                                    (I) are held in geographically 
                                diverse regions of the United States;
                                    (II) allow members of the public to 
                                participate and share concerns related 
                                to the costs of goods and services 
                                within the purview of the Special 
                                Advisor; and
                                    (III) occur not less frequently 
                                than 3 times per year.
                            (iv) Prepare a summary report of each 
                        regional listening session held under clause 
                        (iii) and share the report with the Council, 
                        the Joint Economic Committee, the Speaker of 
                        the House of Representatives, and the President 
                        of the Senate.
                            (v) Provide testimony to the Joint Economic 
                        Committee not less frequently than once a year 
                        to identify actions that may be taken to reduce 
                        the costs of the goods and services within the 
                        purview of the Special Advisor.
            (4) State of household budgets report.--Every 3 months, the 
        Council shall submit a State of Household Budgets report to the 
        President, the Commission, and the Joint Economic Committee 
        that includes information relating to the following metrics:
                    (A) The median household purchasing power in the 
                United States.
                    (B) The real wage growth net of housing and health 
                costs in the United States.
                    (C) Household debt-to-income burdens in the United 
                States.
                    (D) Regional affordability indexes in the United 
                States.
                    (E) Basic household necessities inflation measures.

SEC. 5. HOUSEHOLD BUDGET IMPACT STATEMENTS.

    (a) In General.--During the period that the emergency declared 
under section 3 is in effect, the Administrator of the Office of 
Information and Regulatory Affairs of the Office of Management and 
Budget shall require each agency head to include a household budget 
impact statement in any major regulatory action submitted to the 
Administrator.
    (b) Contents.--A household budget impact statement shall include--
            (1) the estimated effects of the regulatory action for an 
        average U.S. household;
            (2) the regional variation in cost burdens on the average 
        U.S. household;
            (3) the estimated benefits that a large corporation might 
        see from the regulatory action; and
            (4) an analysis determining whether the regulatory action 
        would provide more benefits for the average U.S. household or 
        large corporations.
    (c) Public Availability.--Each agency head shall make any household 
budget impact statement submitted under subsection (a) publicly 
available unless national security prohibits disclosure.

SEC. 6. EMERGENCY ENFORCEMENT OF PRICE GOUGING LAWS.

    (a) Establishment.--During the period that the emergency declared 
under section 3 is in effect, the Attorney General and the Chair of the 
Federal Trade Commission shall jointly establish a task force to be 
known as the ``Joint Task Force on Consumer Costs'' (in this section 
referred to as the ``Task Force'').
    (b) Composition.--The Task Force shall be composed of--
            (1) the Attorney General (or a designee), who shall serve 
        as a Co-Chair;
            (2) the Chair of the Federal Trade Commission (or a 
        designee), who shall serve as a Co-Chair; and
            (3) such other officers and employees of the Department of 
        Justice and the Federal Trade Commission as the Co-Chairs may 
        jointly designate, including--
                    (A) attorneys from the Antitrust Division of the 
                Department of Justice;
                    (B) attorneys from the Bureau of Competition and 
                the Bureau of Consumer Protection of the Federal Trade 
                Commission; and
                    (C) economists and investigators with expertise in 
                supply chain dynamics and retail pricing.
    (c) Duties.--The Task Force shall coordinate the efforts of the 
Federal Government to prevent and prosecute price gouging and other 
anticompetitive practices during the period that the emergency declared 
under section 3 is in effect, including by--
            (1) monitoring retail and wholesale price increases for 
        essential goods and services;
            (2) sharing information and evidence between the Department 
        of Justice and the Federal Trade Commission regarding potential 
        violations of Federal law;
            (3) investigating business and industry practices that 
        inflate costs for households;
            (4) initiating joint investigations into suspected 
        anticompetitive practices, unfair or deceptive acts or 
        practices, and unfair and illegal pricing practices such as 
        price gouging, price-fixing, and price discrimination;
            (5) providing guidance to State attorneys general to ensure 
        a coordinated national response to localized unfair and illegal 
        pricing practices; and
            (6) establishing a centralized public portal for consumers 
        and whistleblowers to report suspected anticompetitive, unfair 
        or deceptive practices, and unfair and illegal pricing 
        practices.
    (d) Enforcement Powers.--In carrying out its duties under 
subsection (c), the Task Force shall utilize all authorities available 
to the Department of Justice and the Federal Trade Commission, 
including authorities under--
            (1) the Federal Trade Commission Act (15 U.S.C. 41 et 
        seq.);
            (2) the Sherman Act (15 U.S.C. 1 et seq.);
            (3) the Clayton Act (15 U.S.C. 12 et seq.); and
            (4) any other Federal statute prohibiting fraud, hoarding, 
        or the manipulation of prices in interstate commerce.
    (e) Resource Sharing.--The Attorney General and the Chair of the 
Federal Trade Commission may--
            (1) detail personnel to the Task Force on a non-
        reimbursable basis; and
            (2) notwithstanding any other provision of law, share 
        investigative files, data, and technical resources if--
                    (A) such sharing is necessary for the performance 
                of the duties of the Task Force under subsection (c); 
                and
                    (B) appropriate protections for confidential 
                business information are maintained.
    (f) Reporting.--Not later than 60 days after the establishment of 
the Task Force, and every 90 days thereafter until the Task Force is 
terminated pursuant to subsection (g), the Co-Chairs shall submit a 
report on the activities of the Task Force, including the number of 
investigations opened and the status of enforcement actions, to--
            (1) the Committee on the Judiciary of the Senate;
            (2) the Committee on Commerce, Science, and Transportation 
        of the Senate;
            (3) the Committee on the Judiciary of the House of 
        Representatives; and
            (4) the Committee on Energy and Commerce of the House of 
        Representatives.
    (g) Termination.--The Task Force shall terminate on the date that 
is 30 days after the expiration or rescission of the emergency declared 
under section 3.
    (h) Rule of Construction.--Nothing in this Act shall be construed 
as authorizing the Department of Justice or the Federal Trade 
Commission to suspend, terminate, or deprioritize any ongoing 
investigation, enforcement action, or litigation initiated by the Task 
Force that is ongoing at the time the Task Force terminates pursuant to 
subsection (g).

SEC. 7. USE OF AUTHORITIES UNDER DEFENSE PRODUCTION ACT OF 1950.

    (a) Covered Agency Head Defined.--In this section, the term 
``covered agency head'' means the head of an agency to whom the 
President delegated, under section 201(a) of Executive Order 13603 (77 
Fed. Reg. 16651; relating to national defense resources preparedness), 
authorities under section 101 of the Defense Production Act of 1950 (50 
U.S.C. 4511).
    (b) Mandatory Utilization.--During the period the emergency 
declared under section 3 is in effect, the President shall use the 
authorities provided under title III of the Defense Production Act of 
1950 (50 U.S.C. 4531 et seq.) to expand productive capacity with 
respect to and supply of basic household necessities.
    (c) Coordination With Council of Economic Advisers.--
            (1) Strategic plan.--Not later than 15 days after the date 
        of enactment of this Act, the President, acting through each 
        covered agency head, shall develop a strategic plan for the 
        expenditure of funds from the Defense Production Act Fund (50 
        U.S.C. 4534) to increase the domestic supply of basic household 
        necessities.
            (2) Economic impact analysis.--Each covered agency head 
        shall conduct a continuous assessment of the domestic 
        industrial base within the purview of the covered agency head 
        to identify supply chain bottlenecks that contribute to price 
        volatility for basic household necessities.
            (3) Evidentiary requirement for project execution.--The 
        President may not execute a contract, loan, or purchase 
        commitment under this section unless a relevant covered agency 
        head submits a written certification to the President that the 
        proposed activity supported by the contract, loan, or purchase 
        commitment--
                    (A) is directly supported by empirical economic 
                data; and
                    (B) can be reasonably proven to result in a 
                reduction of the retail or wholesale cost of a specific 
                basic household necessity within 180 days of the 
                commencement of the activity.
            (4) Authorized actions.--In carrying out subsection (a), 
        the President may carry out the following actions:
                    (A) Loan guarantees and loans.--Issue guarantees 
                and make loans under sections 301 and 302 of the 
                Defense Production Act of 1950 (50 U.S.C. 4531, 4532) 
                to small- and medium-sized businesses to modernize 
                facilities for the production of basic household 
                necessities.
                    (B) Purchase commitments.--Execute purchase 
                commitments under section 303 of the Defense Production 
                Act of 1950 (50 U.S.C. 4533) to make available basic 
                household necessities at a consistent price to 
                individuals in the United States for the duration of 
                the agreement.
                    (C) Production cost offset.--Provide for subsidy 
                payments under section 303(c) of the Defense Production 
                Act of 1950 (50 U.S.C. 4533(c)) to offset the costs of 
                domestically produced raw materials essential to the 
                production of basic household necessities.
    (d) Exemption From National Defense Requirement.--Under subsections 
(b) and (c), the President shall exercise the authorities provided 
under title III of the Defense Production Act of 1950 (50 U.S.C. 4531 
et seq.) without regard to any requirement of that Act that the 
exercise of such authorities be for the national defense.

SEC. 8. CONGRESSIONAL ACTION ON COST-OF-LIVING EMERGENCY.

    (a) Establishment of Cost-of-Living Commission.--
            (1) Establishment.--There is hereby established in Congress 
        a Cost-of-Living Commission.
            (2) Duties.--
                    (A) General.--The Commission shall identify 
                policies to--
                            (i) meaningfully improve the cost-of-living 
                        situation for the average U.S. household in the 
                        short- and medium-term, including by reducing 
                        cost drivers for specified sectors; and
                            (ii) achieve national economic growth that 
                        maintains a stable and sustainable cost-of-
                        living over the long run.
                    (B) Recommendations of committees.--Not later than 
                60 days after the date of enactment of this Act, each 
                committee of the Senate and the House of 
                Representatives may transmit to the Commission any 
                recommendations of the committee to further the 
                legislative policies described in subparagraph (A).
                    (C) Interim report.--The Commission may meet to 
                consider, and vote on, an interim report on--
                            (i) any findings, conclusions, or 
                        recommendations of the Commission relating to 
                        the policies identified under subparagraph (A); 
                        and
                            (ii) as the Commission determines 
                        appropriate, any findings resulting from any 
                        hearing held or evidence received by the 
                        Commission.
                    (D) Report, recommendations, and legislative 
                language.--
                            (i) Policy recommendations; permanent 
                        actions.--
                                    (I) Policy recommendations.--Not 
                                later than 180 days after the date of 
                                enactment of this Act, the Commission 
                                shall meet to consider and vote on--
                                            (aa) a report that contains 
                                        a detailed statement of the 
                                        findings, conclusions, and 
                                        recommendations of the 
                                        Commission relating to the 
                                        policies identified under 
                                        subparagraph (A) and the 
                                        estimate of the Congressional 
                                        Budget Office required under 
                                        paragraph (4)(D); and
                                            (bb) legislative language 
                                        to carry out the 
                                        recommendations of the 
                                        Commission relating to the 
                                        policies identified under 
                                        subparagraph (A), which shall 
                                        include a statement of the 
                                        economic and budgetary effects 
                                        of the recommendations.
                                    (II) Permanent actions.--Not later 
                                than 30 days before the date on which 
                                the emergency declared under section 3 
                                terminates, the Commission shall meet 
                                to consider and vote on--
                                            (aa) a report that contains 
                                        a detailed statement of the 
                                        actions that were taken in 
                                        accordance with this Act and 
                                        findings as to whether any of 
                                        those actions should be made 
                                        continued after the date on 
                                        which the emergency declared 
                                        under section 3 terminates; and
                                            (bb) if the Commission 
                                        finds that the actions taken in 
                                        accordance with this Act should 
                                        be continued after the date on 
                                        which the emergency declared 
                                        under section 3 terminates, 
                                        legislative language to carry 
                                        out the actions, which shall 
                                        include a statement of the 
                                        economic and budgetary effects 
                                        of the actions.
                            (ii) Approval of report and legislative 
                        language.--A report and legislative language of 
                        the Commission under subclause (I) or (II) of 
                        clause (i) shall require the approval of a 
                        majority of the members of the Commission, 
                        provided that such majority shall be required 
                        to include not fewer than 2 members of the 
                        Commission appointed by members of the 
                        Republican Party and not fewer than 2 members 
                        appointed by members of the Democratic Party.
                            (iii) Additional views.--A member of the 
                        Commission who gives notice of an intention to 
                        file supplemental, minority, or additional 
                        views at the time of the final Commission vote 
                        on the approval of the report and legislative 
                        language of the Commission under subclause (I) 
                        or (II) of clause (i) shall be entitled to 3 
                        days to file those views in writing with the 
                        staff director of the Commission, and such 
                        report shall be included in the report of the 
                        Commission published under clause (iv).
                            (iv) Report and legislative language to be 
                        made public.--Upon the approval or disapproval 
                        by the Commission of a report and legislative 
                        language under subclause (I) or (II) of clause 
                        (i), the Commission shall promptly, and not 
                        more than 24 hours after the approval or 
                        disapproval or, if timely notice is given under 
                        clause (iii), not more than 24 hours after 
                        additional views are filed under that clause, 
                        make the report, the legislative language, and 
                        a record of the vote on the report and 
                        legislative language available to the public.
                            (v) Submission of report and legislative 
                        language.--If a report and legislative language 
                        are approved by the Commission under subclause 
                        (I) or (II) of clause (i), not later than 3 
                        days after the date on which the report and 
                        legislative language are made available to the 
                        public under clause (iv), the Commission shall 
                        submit the report and legislative language to 
                        the President, the Vice President, the Speaker 
                        of the House of Representatives, and the 
                        majority and minority leaders of each House of 
                        Congress.
                            (vi) Extension.--
                                    (I) In general.--The Commission may 
                                extend the deadline set forth in 
                                subclause (I) or (II) of clause (i), if 
                                the Commission determines that 
                                additional time is necessary to 
                                complete the duties of the Commission 
                                under this section.
                                    (II) Approval.--An extension under 
                                subclause (I) shall require the 
                                approval of a majority of the members 
                                of the Commission, provided that such 
                                majority shall be required to include 
                                not fewer than 2 members of the 
                                Commission appointed by members of the 
                                Republican Party and not fewer than 2 
                                members appointed by members of the 
                                Democratic Party.
            (3) Membership.--
                    (A) In general.--Not later than 14 days after the 
                date of enactment of this Act, and with due 
                consideration to the chairs and ranking members of the 
                committees and subcommittees of Congress that maintain 
                subject matter jurisdiction, as applicable, the 
                Commission shall be composed of 12 members appointed as 
                follows:
                            (i) 2 individuals from among the Members of 
                        the Senate, and 1 outside expert, appointed by 
                        the majority leader of the Senate.
                            (ii) 2 individuals from among the Members 
                        of the Senate, and 1 outside expert, appointed 
                        by the minority leader of the Senate.
                            (iii) 2 individuals from among the Members 
                        of the House of Representatives, and 1 outside 
                        expert, appointed by the Speaker of the House 
                        of Representatives.
                            (iv) 2 individuals from among the Members 
                        of the House of Representatives, and 1 outside 
                        expert, appointed by the minority leader of the 
                        House of Representatives.
                    (B) Co-chairs.--Not later than 14 days after the 
                date of enactment of this Act, with respect to the 
                Commission--
                            (i) the leadership of the Senate and House 
                        of Representatives of the same political party 
                        as the President shall appoint 1 individual 
                        among the members of the Commission who shall 
                        serve as a co-chair of the Commission; and
                            (ii) the leadership of the Senate and House 
                        of Representatives of the opposite political 
                        party as the President shall appoint 1 
                        individual among the members of the Commission 
                        who shall serve as a co-chair of the 
                        Commission.
                    (C) Staff director.--With respect to the 
                Commission, the co-chairs, acting jointly, shall hire 
                the staff director of the Commission.
                    (D) Period of appointment.--The members of the 
                Commission shall be appointed for the life of the 
                Commission.
                    (E) Vacancy.--Any vacancy in the Commission shall 
                not affect the powers of the Commission, but shall be 
                filled not later than 14 days after the date on which 
                the vacancy occurs, in the same manner as the original 
                appointment was made.
                    (F) Ineligible members.--If a member of the 
                Commission who was appointed as a Member of the Senate 
                or the House Representatives ceases to be a Member of 
                the Senate or the House of Representatives, as 
                applicable--
                            (i) the member shall no longer be a member 
                        of the Commission; and
                            (ii) a vacancy in the Commission exists.
            (4) Administration.--
                    (A) In general.--With respect to the Commission, to 
                exercise the powers, functions, and duties of the 
                Commission, there are authorized to be disbursed by the 
                Senate the actual and necessary expenses of the 
                Commission approved by the co-chairs of the Commission, 
                subject to the rules and regulations of the Senate.
                    (B) Expenses.--With respect to the Commission, in 
                carrying out the functions of the Commission, the 
                Commission is authorized to incur expenses in the same 
                manner and under the same conditions as the Joint 
                Economic Committee is authorized under section 11(d) of 
                the Employment Act of 1946 (15 U.S.C. 1024(d)).
                    (C) Quorum.--
                            (i) In general.--With respect to the 
                        Commission, 7 members of the Commission shall 
                        constitute a quorum for purposes of voting, 
                        meeting, and holding hearings.
                            (ii) Outside experts.--Outside experts 
                        shall not count for purposes of determining 
                        whether there is a quorum under this 
                        subparagraph.
                    (D) Congressional budget office estimates.--The 
                Director of the Congressional Budget Office shall, with 
                respect to the legislative language proposed by the 
                Commission under subclause (I)(bb) or (II)(bb) of 
                paragraph (2)(D)(i), provide to the Commission--
                            (i) estimates of the legislative language 
                        in accordance with sections 308(a) and 201(f) 
                        of the Congressional Budget Act of 1974 (2 
                        U.S.C. 639(a), 601(f)); and
                            (ii) information on the budgetary effects 
                        of the legislative language on the long-term 
                        fiscal outlook.
                    (E) Hearings.--
                            (i) In general.--The Commission may, for 
                        the purpose of carrying out this section, hold 
                        such hearings, sit and act at such times and 
                        places, require attendance of witnesses and 
                        production of books, papers, and documents, 
                        take such testimony, receive such evidence, and 
                        administer such oaths as the Commission 
                        considers advisable.
                            (ii) Hearing procedures and 
                        responsibilities of co-chairs.--
                                    (I) Announcement.--The co-chairs 
                                shall make a public announcement of the 
                                date, place, time, and subject matter 
                                of any hearing to be conducted under 
                                this subparagraph not later than 7 days 
                                before the date of the hearing, unless 
                                the co-chairs determine that there is 
                                good cause to begin such hearing on an 
                                earlier date.
                                    (II) Written statement.--A witness 
                                appearing before the Commission shall 
                                file a written statement of the 
                                proposed testimony of the witness not 
                                later than 2 days before the date of 
                                the appearance of the witness, unless 
                                the co-chairs of the Commission 
                                determine that there is good cause for 
                                the witness to not file the written 
                                statement or waive the requirement.
                            (iii) Hearing requirements.--The Commission 
                        shall hold not less than 6 hearings under this 
                        subparagraph, which shall include--
                                    (I) field hearings throughout the 
                                United States;
                                    (II) hearings to solicit testimony 
                                from appropriate officials of the 
                                executive branch; and
                                    (III) hearings to solicit testimony 
                                from Members of Congress (in this 
                                subclause defined as a member of the 
                                Senate or the House of Representatives, 
                                a Delegate to the House of 
                                Representatives, and the Resident 
                                Commissioner from Puerto Rico).
                    (F) Technical assistance and consultation.--Upon 
                written request of the co-chairs of the Commission, the 
                head of a Federal agency (including a legislative 
                branch agency) shall provide technical assistance to, 
                and consult with, the Commission in order for the 
                members Commission to carry out the duties of the 
                Commission.
                    (G) Outside expert.--Any outside expert appointed 
                to the Commission--
                            (i) shall not be considered to be a Federal 
                        employee for any purpose by reason of service 
                        on the Commission; and
                            (ii) shall be allowed travel expenses, 
                        including per diem in lieu of subsistence, at 
                        rates authorized for employees of agencies 
                        under subchapter I of chapter 57 of title 5, 
                        United States Code, while away from the home or 
                        regular place of business of the outside expert 
                        in the performance of services for the 
                        Commission.
            (5) Staff of commission.--
                    (A) In general.--The co-chairs of Commission may 
                jointly appoint and fix the compensation of staff of 
                the Commission as the co-chairs determine necessary, in 
                accordance with the guidelines, rules, and requirements 
                relating to employees of the Senate.
                    (B) Ethical standards.--
                            (i) Senate.--A member of the Commission 
                        appointed by a Member of the Senate and staff 
                        of the Commission shall adhere to the ethics 
                        rules of the Senate.
                            (ii) House of representatives.--A member of 
                        the Commission appointed by a Member of the 
                        House of Representatives shall be governed by 
                        the ethics rules and requirements of the House 
                        of Representatives.
            (6) Termination.--The Commission shall terminate 30 days 
        after the date the Commission submits the final report under 
        paragraph (2)(D)(v).
    (b) Funding.--Funding for the Commission shall be derived in equal 
portions from--
            (1) the contingent fund of the Senate from the 
        appropriations account ``Miscellaneous Items'', subject to the 
        rules and regulations of the Senate; and
            (2) the applicable accounts of the House of 
        Representatives.
                                 <all>