S. 1056 · 111th Congress
SAFE Commission Act
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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VoinovichSponsor9 cosponsors · 3 D, 5 R, 1 I
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Isakson
JL
I
Lieberman
MC
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Crapo
BC
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Corker
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Nelson
JR
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Risch
JS
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Shaheen
LG
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Graham
AS
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Specter2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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…
What it does: CRS summary · Introduced in Senate · May 14, 2009
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: SAFE Commission Act
Also known as: Securing America's Future Economy Commission Act
Latest action (May 14, 2009): Read twice and referred to the Committee on the Budget.
Policy area: Economics and Public Finance · Origin: Senate · Introduced: May 14, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.