[Congressional Record Volume 152, Number 74 (Monday, June 12, 2006)]
[Senate]
[Pages S5719-S5721]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. VOINOVICH:
  S. 3491. A bill to establish a commission to develop legislation 
designed to reform tax policy and entitlement benefit programs and to 
ensure a sound fiscal future for the United States, and for other 
purposes; to the Committee on the Budget.
  Mr. VOINOVICH. Mr. President, I rise to speak on the Securing 
America's Future Economy Commission Act, which I am introducing today. 
I ask unanimous consent that my statement and bill be printed in the 
Record.
  This legislation stems from the need to address our Nation's current 
and future fiscal health. The fact is, we are in dire straits. In the 
simplest terms, the Federal Government continues to spend more than it 
takes in. In case anyone has forgotten, the deficit for fiscal year 
2005 was $318 billion--the third largest deficit in our Nation's 
history. If we were to take out the Social Security surplus, the 
deficit would be nearly $500 billion. And if we were to use accrual 
accounting, the accounting method used by American businesses, the 
deficit would be approximately $760 billion.
  These deficits only continue to add to our national debt. When I came 
to the Senate in 1999, the national debt stood at $5.6 trillion. Since 
then, it has increased 50 percent to $8.4 trillion. As a percentage of 
Gross Domestic Product, GDP, our national debt has grown from being 58 
percent of GDP at the end of 2000 to an estimated 66.1 percent of GDP 
by the end of 2006.
  In fact, the debt continues to grow so quickly that the House of 
Representative's fiscal year 2007 budget resolution raises the Federal 
debt ceiling to nearly $10 trillion. This is only a few months after 
Congress was forced to raise the debt ceiling.
  These ongoing deficits, coupled with the expected tidal wave of 
entitlement spending, will soon put our Nation in a very unenviable 
position if thoughtful action is not taken. Moreover, the trust funds 
for Medicare and Social Security will be exhausted even earlier than 
previously thought. According to the most recent trustees' report, the 
cost of Social Security and Medicare will grow from nearly 7.4 percent 
of the economy today to 12.7 percent by 2030, consuming approximately 
70 percent of all Federal revenues, crowding out all other 
discretionary spending and some other mandatory programs.
  While entitlements are a major component of our Nation's future 
fiscal health, it is not the only portion. Just as we must look at how 
we must reform our entitlement programs to maintain our nation's 
competitiveness, we must also review our arcane Tax Code.
  What we should be doing is spending our time on tax reform. We all 
know that fundamental tax reform is critical. Just as we know the 
entitlement tidal wave is coming, we know that more and more middle 
class American families are being swept up in the AMT. So I simply 
cannot understand why some of my colleagues want to make so many 
provisions of the current Tax Code permanent or add new tax cuts when 
we very well may be eliminating precisely the same provisions as part 
of fundamental tax reform. No homeowner would remodel their kitchen and 
bathroom right before tearing down the house to build a newer and 
better one.
  Simplifying the code to make it more fair and honest could, by some 
estimates, save taxpayers over $265 billion in costs associated with 
preparing their taxes. That would be a real tax reduction, and it would 
not cost the Treasury one dime. It would be a tax cut that would 
guarantee that people are paying their fair share and would bring more 
money into the Federal Treasury.

  Anyone in the know who is watching us has got to wonder about our 
character, our intellectual honesty, our concern about our national 
security, our Nation's competitiveness in the global marketplace now 
and in the future, and last but not least, our ``don't-give-a-dam'' 
attitude about the standard of living and quality of life of our 
children and grandchildren. We know the long-term fiscal challenges 
that are facing our nation. We know that if we continue to move forward 
blindly, we will walk off a cliff.
  The simple fact is that we can't have it all--we need to set 
priorities and make hard choices--otherwise our children will end up 
paying for it. Last week I voted against the repeal of the estate tax 
and called on Congress to heed Americans' demand for fundamental tax 
and entitlement reform. The SAFE Act shows that I am serious about 
making this a priority for Congress.
  The legislation will establish a commission comprised of 15 voting 
members, 3 of which will be appointed by the President, 3 by the Senate 
majority leader, 3 by the Senate minority leader, 3 by the Speaker of 
the House and 3 by the House minority leader. The Director of the 
Congressional Budget Office and the Comptroller General of the United 
States will be appointed as nonvoting ex-officio members of the 
Commission to lend their expertise.
  The Commission will bring together the best minds associated with 
budget and economic policies to examine the long-term fiscal challenges 
facing the United States and recommend reforms. A minimum of six public 
town hall meetings will be held throughout the country within year to 
determine the scope of the problem and consider solutions.
  At the conclusion of the town meetings, the Commission will present a 
report to Congress detailing the fiscal problems facing future 
generations as well as a framework of long-term solutions. Within 60 
days of the presentation of their report to Congress, the Commission 
will transmit to Congress a legislative proposal designed to: address 
the imbalance between long-term Federal spending commitments and 
projected revenues; increase net national savings to spur domestic 
investment and economic growth; and improve the budget process to place 
greater emphasis on long-term fiscal issues.
  The administration and Congress will each have 120 days to review the 
proposal and develop equivalent proposals if they deem necessary. 
Congress would then be required to vote on the proposals.
  America's fiscal situation is dire. Nothing is off the table when it 
comes to ensuring our longterm prosperity and increasing our 
competitiveness in the global marketplace. The task is daunting, but 
now is the time to act. I am thinking not only about the present, but 
about our children and grandchildren and the legacy--or burden--we will 
leave them.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 3491

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

[[Page S5720]]

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``Securing America's Future 
     Economy Commission Act'' or ``SAFE Commission Act''.

     SEC. 2. ESTABLISHMENT.

       There is established a commission to be known as the 
     ``Securing America's Future Economy Commission'' (hereinafter 
     in this Act referred to as the ``Commission'').

     SEC. 3. DUTIES OF COMMISSION.

       (a) Mandatory Legislation Development.--
       (1) Issues to address.--The Commission shall examine the 
     long-term fiscal challenges facing the United States and 
     develop legislation designed to address the following issues:
       (A) The unsustainable imbalance between long-term Federal 
     spending commitments and projected revenues.
       (B) Increasing net national savings to provide for domestic 
     investment and economic growth.
       (C) Improving the budget process to place greater emphasis 
     on long-term fiscal issues.
       (2) Policy solutions.--Legislation developed to address the 
     issues described in paragraph (1) may include the following:
       (A) Reforms that limit the growth of entitlement spending 
     to ensure that the programs are fiscally sustainable.
       (B) Reforms that strengthen the safety net functions of 
     entitlement programs.
       (C) Reforms that make United States tax laws more efficient 
     and more conducive to encouraging economic growth.
       (D) Incentives to increase private savings.
       (E) Automatic stabilizers or triggers to enforce spending 
     and revenue targets.
       (F) Any other reforms designed to address the issues 
     described in paragraph (1).
       (b) Optional Development of Cost Estimate Alternatives.--
     The Commission shall by an affirmative vote of 5 members 
     develop not more than 2 methods for estimating the cost of 
     legislation as an alternative to the method currently used by 
     the Congressional Budget Office. Any such alternative method 
     must be designed to address any shortcomings in the method 
     currently used with regard to estimating the positive 
     economic effects of legislation.

     SEC. 4. INITIAL TOWN-HALL STYLE PUBLIC HEARINGS.

       (a) In General.--The Commission shall hold at least 1 town-
     hall style public hearing within each Federal reserve 
     district, and shall, to the extent feasible, ensure that 
     there is broad public participation in the hearings.
       (b) Hearing Format.--During each hearing, the Commission 
     shall present to the public, and generate comments and 
     suggestions regarding, the issues described in section 3, 
     policies designed to address those issues, and tradeoffs 
     between such policies.

     SEC. 5. REPORT.

       The Commission shall, not later than 1 year after the date 
     of enactment of this Act, submit a report to Congress and the 
     President containing the following:
       (1) A detailed description of the long-term fiscal problems 
     faced by the United States.
       (2) A list of policy options for addressing those problems.
       (3) A summary of comments and suggestions generated from 
     the town-hall style public hearings.
       (4) A detailed statement of any findings of the Commission 
     as to public preferences regarding the issues, policies, and 
     tradeoffs presented in the town-hall style public hearings.
       (5) Criteria for the legislative proposal to be developed 
     by the Commission.
       (6) A detailed description of the other activities of the 
     Commission.

     SEC. 6. LEGISLATIVE PROPOSAL.

       (a) In General.--Not later than 60 days after the date the 
     report is submitted under section 5 and by a vote of \2/3\ of 
     the members, the Commission shall submit a legislative 
     proposal to Congress and the President designed to address 
     the issues described section 3.
       (b) Proposal Requirements.--The proposal must, to the 
     extent feasible, be designed--
       (1) to achieve generational equity and long-term economic 
     stability;
       (2) to address the comments and suggestions of the public; 
     and
       (3) to meet the criteria set forth in the Commission 
     report.
       (c) Inclusion of Cost Estimate.--The Commission shall 
     submit with the proposal--
       (1) a long-term CBO cost estimate prepared under section 14 
     for the proposal; and
       (2) if an alternative cost estimate method is developed by 
     the Commission, a 50-year cost estimate using such method.

     SEC. 7. MEMBERSHIP AND MEETINGS.

       (a) In General.--The Commission shall be composed of 15 
     voting members appointed pursuant to paragraph (1) and 2 
     nonvoting members described in paragraph (2).
       (1) Voting members.--The 15 voting members of the 
     Commission shall be appointed as follows:
       (A) The President shall appoint 3 members, one of whom the 
     President shall appoint as chairperson of the Commission.
       (B) The Majority Leader of the Senate shall appoint 3 
     members.
       (C) The Minority Leader of the Senate shall appoint 3 
     members.
       (D) The Speaker of the House of Representatives shall 
     appoint 3 members.
       (E) The Minority Leader of the House of Representatives 
     shall appoint 3 members.
       (2) Nonvoting members.--The Comptroller General of the 
     United States and the Director of the Congressional Budget 
     Office shall each be nonvoting members of the Commission and 
     shall advise and assist at the request of the Commission.
       (b) Limitation as to Members of Congress.--Each appointing 
     authority described in subsection (a)(1) who is a Member of 
     Congress may appoint not more than 1 Member of Congress to 
     the Commission.
       (c) Date for Original Appointment.--The appointing 
     authorities described in subsection (a)(1) shall appoint the 
     initial members of the Commission not later than 30 days 
     after the date of enactment of this Act.
       (d) Terms.--
       (1) In general.--The term of each member is for the life of 
     the Commission.
       (2) Vacancies.--A vacancy in the Commission shall be filled 
     not later than 30 days after the date on which the vacancy 
     occurs and in the manner in which the original appointment 
     was made.
       (e) Pay and Reimbursement.--
       (1) No compensation for members of commission.--Except as 
     provided in paragraph (2), a member of the Commission may not 
     receive pay, allowances, or benefits by reason of their 
     service on the Commission.
       (2) Travel expenses.--Each member shall receive travel 
     expenses, including per diem in lieu of subsistence under 
     subchapter I of chapter 57 of title 5, United States Code.
       (f) Meetings.--The Commission shall meet upon the call of 
     the chairperson or a majority of its voting members.
       (g) Quorum.--Six voting members of the Commission shall 
     constitute a quorum, but a lesser number may hold hearings.

     SEC. 8. DIRECTOR AND STAFF OF COMMISSION.

       (a) Director.--
       (1) In general.--Subject to subsection (c) and to the 
     extent provided in advance in appropriation Acts, the 
     Commission shall appoint and fix the pay of a director.
       (2) Duties.--The director of the Commission shall be 
     responsible for the administration and coordination of the 
     duties of the Commission and shall perform other such duties 
     as the Commission may require.
       (b) Staff.--In accordance with rules agreed upon by the 
     Commission, subject to subsection (c), and to the extent 
     provided in advance in appropriation Acts, the director may 
     appoint and fix the pay of additional personnel.
       (c) Applicability of Certain Civil Service Laws.--The 
     director and staff of the Commission may be appointed without 
     regard to the provisions of title 5, United States Code, 
     governing appointments in the competitive service, and may be 
     paid without regard to the provisions of chapter 51 and 
     subchapter III of chapter 53 of that title relating to 
     classification and General Schedule pay rates, except that 
     pay fixed under subsection (a) may not exceed $150,000 per 
     year and pay fixed under subsection (b) may not exceed a rate 
     equal to the daily equivalent of the annual rate of basic pay 
     for level V of the Executive Schedule under section 5316 of 
     title 5, United States Code.
       (d) Detailees.--Any Federal Government employee may be 
     detailed to the Commission without reimbursement from the 
     Commission, and such detailee shall retain the rights, 
     status, and privileges of their regular employment without 
     interruption.
       (e) Experts and Consultants.--
       (1) In general.--Subject to paragraph (2), in accordance 
     with rules agreed upon by the Commission and to the extent 
     provided in advance in appropriation Acts, the director may 
     procure the services of experts and consultants under section 
     3109(b) of title 5, United States Code, but at rates not to 
     exceed the daily equivalent of the annual rate of basic pay 
     for level V of the Executive Schedule under section 5316 of 
     title 5, United States Code.
       (2) Exclusion of lobbyists and agents of foreign 
     governments.--In no case may any individual who is a 
     registered lobbyist or an agent of a foreign government serve 
     as an expert or a consultant under this subsection.
       (f) Resources.--The Commission shall have reasonable access 
     to materials, resources, statistical data, and other 
     information the Commission determines to be necessary to 
     carry out its duties from the Commissioner of the Social 
     Security Administration, the Administrator of the Centers for 
     Medicare & Medicaid Services, the Secretary of the Treasury, 
     and other agencies and representatives of the executive and 
     legislative branches of the Federal Government. The 
     Chairperson shall make requests for such access in writing 
     when necessary.

     SEC. 9. POWERS OF COMMISSION.

       (a) Hearings and Evidence.--The Commission may, for the 
     purpose of carrying out this Act, hold such hearings in 
     addition to the town-hall style public hearings, sit and act 
     at such times and places, take such testimony, and receive 
     such evidence as the Commission considers appropriate. The 
     Commission may administer oaths or affirmations to witnesses 
     appearing before it.
       (b) Powers of Members and Agents.--Any member or agent of 
     the Commission may, if authorized by the Commission, take any 
     action which the Commission is authorized to take under this 
     section.
       (c) Mails.--The Commission may use the United States mails 
     in the same manner and under the same conditions as other 
     departments and agencies of the United States.
       (d) Administrative Support Services.--Upon the request of 
     the Commission, the Administrator of General Services shall 
     provide

[[Page S5721]]

     to the Commission, on a reimbursable basis, the 
     administrative support services necessary for the Commission 
     to carry out its responsibilities under this Act.
       (e) Contract Authority.--To the extent provided in advance 
     in appropriation Acts, the Commission may enter into 
     contracts to enable the Commission to discharge its duties 
     under this Act.
       (f) Gifts.--The Commission may accept, use, and dispose of 
     gifts or donations of services or property.

     SEC. 10. TERMINATION.

       The Commission shall terminate 60 days after submitting its 
     legislative proposal.

     SEC. 11. ALTERNATIVE LEGISLATIVE PROPOSAL OF THE PRESIDENT.

       The President may, not later than 120 days after the 
     Commission submits its legislative proposal, submit to 
     Congress an alternative to the legislative proposal submitted 
     by the Commission.

     SEC. 12. ALTERNATIVE LEGISLATIVE PROPOSAL OF THE COMMITTEE ON 
                   THE BUDGET.

       The Committee on the Budget of either House may, in 
     consultation with the relevant committees of their respective 
     House and not later than 120 days after the Commission 
     submits its legislative proposal, have published in the 
     Congressional Record an alternative to the legislative 
     proposal submitted by the Commission.

     SEC. 13. CONSIDERATION OF LEGISLATION.

       (a) Introduction.--On the first legislative day after the 
     Commission submits its legislative proposal, the Speaker of 
     the House of Representatives and the Majority Leader of the 
     Senate shall introduce (by request) the legislation submitted 
     by the Commission.
       (b) In the House of Representatives.--
       (1) Privileged consideration.--In the House of 
     Representatives, if a committee to which the legislation has 
     been referred has not reported the legislation before the 
     expiration of the 120-day period described in section 12, 
     then--
       (A) that committee shall be discharged from consideration 
     of the legislation;
       (B) the legislation shall be placed on the appropriate 
     calendar; and
       (C) a motion to proceed to the consideration of the 
     legislation is highly privileged and is not debatable.
       (2) Amendments limited.--
       (A) In general.--Except as provided in subparagraph (B), an 
     amendment to the legislation may not be offered in the House 
     of Representatives.
       (B) Permitted amendments.--(i) Any Member may offer, as an 
     amendment in the nature of a substitute, the alternative 
     legislative proposal submitted by the President.
       (ii) Any Member may offer, as an amendment in the nature of 
     a substitute, the legislative proposal submitted by the 
     Commission.
       (iii) The chairman of the House Committee on the Budget may 
     offer, as an amendment in the nature of a substitute, the 
     alternative legislative proposal published in the 
     Congressional Record by the House Committee on the Budget.
       (C) Point of order.--
       (i) In general.--An amendment offered under subparagraph 
     (B) is subject to a point of order if--

       (I) the amendment is not accompanied by a long-term CBO 
     cost estimate of the amendment or a long-term revenue 
     estimate of the amendment by the Joint Committee of Taxation 
     (including the information described in paragraph (1) and (2) 
     of section 14(b)); or
       (II) the long-term CBO cost estimate of the amendment is 
     greater than the long-term CBO cost estimate of the 
     legislative proposal submitted by the Commission.

       (ii) Waiver of point of order.--A point of order raised in 
     accordance with clause (i) may only be waived or suspended in 
     the House of Representatives by a resolution devoted solely 
     to the subject of waiving that point of order.
       (D) Multiple amendments.--If more than one amendment is 
     offered under this paragraph, then each amendment shall be 
     considered separately, and the amendment receiving both a 
     majority and the highest number of votes shall be the 
     amendment adopted.
       (3) Transmittal to the senate.--If legislation passes the 
     House pursuant to subsection (b), the Clerk of the House of 
     Representatives shall cause the legislation to be engrossed, 
     certified, and transmitted to the Senate within one calendar 
     day of the day on which the legislation is passed. The 
     legislation shall be referred to the Senate Committee on the 
     Budget.
       (c) In the Senate.--
       (1) Automatic discharge of senate budget committee.--If the 
     Senate Committee on the Budget has not reported the 
     legislation before the expiration of the 120-day period 
     described in section 12, then--
       (A) the committee shall be discharged from consideration of 
     the legislation; and
       (B) a motion to proceed to the consideration of the 
     legislation is highly privileged and is not debatable.
       (2) Consideration.--Consideration of such legislation shall 
     be pursuant to the procedures set forth in section 305 of the 
     Congressional Budget Act of 1974.
       (3) Amendments limited.--
       (A) In general.--Except as provided in subparagraph (B), an 
     amendment to the legislation may not be offered in the 
     Senate.
       (B) Permitted amendments.--(i) Any Member may offer, as an 
     amendment in the nature of a substitute, the alternative 
     legislative proposal submitted by the President.
       (ii) Any Member may offer, as an amendment in the nature of 
     a substitute, the legislative proposal submitted by the 
     Commission.
       (iii) The chairman of the Senate Committee on the Budget 
     may offer, as an amendment in the nature of a substitute, the 
     alternative legislative proposal published in the 
     Congressional Record by the Senate Committee on the Budget.
       (C) Point of order.--
       (i) In general.--An amendment offered under subparagraph 
     (B) is subject to a point of order if--

       (I) the amendment is not accompanied by a long-term CBO 
     cost estimate of the amendment or a long-term revenue 
     estimate of the amendment by the Joint Committee of Taxation 
     (including the information described in paragraph (1) and (2) 
     of section 14(b)); or
       (II) the long-term CBO cost estimate of the amendment is 
     greater than the long-term CBO cost estimate of the 
     legislative proposal submitted by the Commission.

       (ii) Waiver of point of order.--A point of order raised in 
     accordance with clause (i) may only be waived or suspended in 
     the Senate by an affirmative vote of \3/5\ of the Members 
     duly chosen and sworn.
       (D) Multiple amendments.--If more than one amendment is 
     offered under this paragraph, then each amendment shall be 
     considered separately, and the amendment receiving both a 
     majority and the highest number of votes shall be the 
     amendment adopted.
       (d) Application of Congressional Budget Act.--To the extent 
     that they are relevant and not inconsistent with this Act, 
     the provisions of title III of the Congressional Budget Act 
     of 1974 shall apply in the House of Representatives and the 
     Senate to legislation considered under this section.
       (e) Rules of the Senate and the House of Representatives.--
     This section is enacted by Congress--
       (1) as an exercise of the rulemaking power of the Senate 
     and the House of Representatives, respectively, and is deemed 
     to be part of the rules of each House, respectively, but 
     applicable only with respect to the procedure to be followed 
     in that House in the case of a bill introduced pursuant to 
     this section, and it supersedes other rules only to the 
     extent that it is inconsistent with such rules; and
       (2) with full recognition of the constitutional right of 
     either House to change the rules (so far as they relate to 
     the procedure of that House) at any time, in the same manner, 
     and to the same extent as in the case of any other rule of 
     that House.

     SEC. 14. LONG-TERM CBO COST ESTIMATE.

       (a) Preparation and Submission.--When the Commission, the 
     President, or the chairman of the Committee on the Budget of 
     either House submits a written request to the Director of the 
     Congressional Budget Office for a long-term cost estimate by 
     the Congressional Budget Office (referred to in this Act as a 
     ``long-term CBO cost estimate'') of legislation proposed 
     under this Act or an amendment referred to in section 
     13(b)(2)(B), the Director shall prepare the estimate and have 
     it published in the Congressional Record as expeditiously as 
     possible.
       (b) Content.--A long-term CBO cost estimate shall include--
       (1) an estimate of the cost of each provision of the 
     legislation or amendment for the first fiscal year it would 
     take effect and for each of the 50 fiscal years thereafter; 
     and
       (2) a statement of any estimated future costs not reflected 
     by the estimate described in paragraph (1).

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