Efforts to Create Bipartisan Debt Commission Stalled in Congress

Debt Commission Proposal Stalls in Congress Amid Bipartisan Opposition

WASHINGTON (AP) — Despite the urgent warnings from lawmakers about the growing $34.6 trillion federal debt burden, a proposal to create a bipartisan commission to address the issue appears to be on the verge of collapse.

The Speaker of the House of Representatives, Mike Johnson, had made it a top priority since taking office, emphasizing the need to act swiftly to avoid unbearable consequences. However, more than six months later, the proposal has faced vocal opposition from both the right and left, highlighting the challenges of addressing the country’s fiscal challenges in an election year.

Democrats and left-wing advocacy groups fear the commission would recommend cuts to Social Security benefits, while some Republicans and right-wing groups oppose it out of concern that it would lead to tax increases, labeling it a “tax trap.”

Despite efforts to advance the legislation, including support from Speaker Johnson and the House Budget Committee, opposition from outside groups and skepticism from the White House have hindered progress. The proposal, modeled after previous successful commissions, aims to recommend steps to balance the federal budget and ensure the long-term fiscal health of programs like Medicare and Social Security.

The fiscal realities facing the country, including the depletion of Social Security reserves by 2033 and the need for Medicare cuts by 2036, underscore the urgency of addressing the debt issue. However, the lack of consensus on how to approach the problem has stalled the commission’s progress.

Supporters of the commission remain hopeful that it can still be approved before the end of the current Congress, with discussions of potentially tying it to legislation in a lame-duck session. Despite the challenges and opposition, lawmakers like Rep. Scott Peters of California emphasize the importance of taking action to address the country’s growing debt burden.

As the debate continues in Congress, the fate of the debt commission proposal remains uncertain, with lawmakers facing the difficult task of finding common ground on a divisive issue that has far-reaching implications for the country’s financial future.