US Congress Senate Bill 1056 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on May 14 2009 - 25% progression, died in chamber
Action: 2009-05-14 - Read twice and referred to the Committee on the Budget.
Text: Latest bill text (Introduced) [PDF]

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.

SAFE Commission Act

Sen. Bob Corker [R-TN]	Sen. Mike Crapo [R-ID]	Sen. Lindsey Graham [R-SC]	Sen. Johnny Isakson [R-GA]
Sen. Joseph Lieberman [I-CT]	Sen. Benjamin Nelson [D-NE]	Sen. James Risch [R-ID]	Sen. Jeanne Shaheen [D-NH]
Sen. Arlen Specter [D-PA]	Sen. George Voinovich [R-OH]

Date	Chamber	Action
2009-05-14		Read twice and referred to the Committee on the Budget.

HB1557 (Related) 2009-03-17 - Referred to House Rules

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/senate-bill/1056/all-info
Text	https://www.congress.gov/111/bills/s1056/BILLS-111s1056is.pdf