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SAFE Commission Act

Introduced: March 17, 2009 See on congress.gov

Everywhere this bill has been 4 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Mar 17, 2009

Referred to House Rules

Mar 17, 2009

Referred to the Committee on the Budget, and in addition to the Committee on 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.

Mar 17, 2009

Referred to House Budget

Mar 17, 2009

Introduced in House

Plain-English summary Congressional Research Service

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) develop one or two methods for estimating the cost of legislation as an alternative to the current Congressional Budget Office (CBO) method; and (2) hold at least one town-hall style public hearing within each federal reserve district.

Requires the Commission to submit a legislative proposal to Congress and the President. Authorizes the President to submit to Congress an alternative proposal. Authorizes the Committee on the Budget of either chamber to publish its own alternative proposal in the Congressional Record.

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.

What's happening now March 17, 2009

Referred to House Rules

Committees of jurisdiction 2