It’s Time For A Bipartisan Commission On Taxes And Spending (Again)

The Fiscal Responsibility Act of 2023 (H.R. 3746) is a done deal. The federal government avoided a debt default, at least for now.

Shortly before President Biden signed the legislation, House Speaker Kevin McCarthy, R-Calif., made an interesting remark. Acknowledging that the new law was a stopgap measure, he proposed a bipartisan commission to explore the kind of broader reforms that will be necessary to address the country’s long-term fiscal problems.