Utah Valley Times

U.S. Senators Mitt Romney (R-UT) and Joe Manchin (D-WV) have expressed their support for the House Budget Committee's passage of the bipartisan Fiscal Commission Act. This legislation, which is the House companion to the Senators' Fiscal Stability Act, aims to establish a bicameral fiscal commission responsible for finding legislative solutions to stabilize and reduce the national debt, which currently stands at over $34 trillion.

In a joint statement, Senators Romney and Manchin applauded the House Budget Committee, Chairman Arrington, and Representatives Peters and Huizenga for advancing this "commonsense legislation" that seeks to bring the country back to a sustainable fiscal outlook. The senators also acknowledged Speaker Johnson's ongoing support for this effort.

Highlighting the urgency of the situation, the senators emphasized the need for immediate corrective action to address the "catastrophic financial demise" that the country has brought upon itself. They stressed that taking action now is crucial to prevent future generations from being burdened by the poor fiscal choices of the present.

Senators Romney and Manchin expressed their commitment to working with their colleagues on both sides of the aisle in both chambers of Congress to ensure the successful passage and enactment of this critical legislation.

The Fiscal Stability Act, introduced by Senators Romney and Manchin, was discussed before the House Budget Committee on November 29, 2023. In a statement on January 3, 2024, the senators called on their colleagues to prioritize the passage of this legislation in the new year, as the national debt surpassed $34 trillion.

U.S. Representatives Scott Peters (D-CA) and Bill Huizenga (R-MI) are the original cosponsors of the companion bill in the House. Senators Romney and Manchin's Fiscal Stability Act has garnered support from a bipartisan group of cosponsors, including Senators Todd Young (R-IN), Kyrsten Sinema (I-AZ), Cynthia Lummis (R-WY), John Hickenlooper (D-CO), John Cornyn (R-TX), Mark Warner (D-VA), Thom Tillis (R-NC), and Jeanne Shaheen (D-NH).

The legislation aims to tackle the pressing issue of the national debt and establish a fiscal commission that will propose and implement solutions to address this challenge.

In conclusion, Senators Romney and Manchin have commended the House Budget Committee's action on the Fiscal Commission Act, recognizing the importance of finding practical and bipartisan solutions to stabilize and decrease the national debt. The senators are determined to work collaboratively with their colleagues to ensure the passage of this crucial legislation and its subsequent enactment into law.