Charter for the National Commission on Fiscal Responsibility and Reform
1. Committee’s Official Designation: The official title of the advisory committee is the National Commission on Fiscal Responsibility and Reform (the “Commission”).
2. Authority: Executive Order 13531 of February 18, 2010 entitled “National Commission on Fiscal Responsibility and Reform.” The Commission is being established in accordance with the provisions of the Federal Advisory Committee Act (FACA), as amended, 5 U.S.C. App.
3. Objectives and Scope of Activities. The objective of the Commission is to identify to the President policies to improve the fiscal situation in the medium term and to achieve fiscal sustainability over the long run.
4. Description of Duties. The functions of the Commission are advisory only. The Commission shall propose recommendations to balance the budget, excluding interest payment on the debt, by 2015. This result is projected to stabilize the debt-to-GDP ratio at an acceptable level once the economy recovers. In addition, the Commission shall propose recommendations to the President that meaningfully improve the long-run fiscal outlook, including changes to address the growth of entitlement spending and the gap between the projected revenues and expenditures of the Federal Government.
The Commission shall provide its advice and recommendations, analysis, and information directly to the President. In providing the President this advice, the Commission should reflect the judgment and views of the members of the Commission. To meet these objectives, the Commission will conduct such activities as necessary. The President may direct the Commission to provide its analysis, information, and advice and recommendations to any agency with responsibilities relevant to the mission identified in the Charter, to Congress, or any other relevant congressional committee.
5. Agency or Official to Whom the Committee Reports. The Commission is a unit within the Executive Office of the President (“EOP”) and reports to the President.
6. Support. The Executive Office of the President will support the activities of the Commission.
7. Estimated Annual Operating Costs and Staff Years. The estimated cost for operating the Commission is $500,000 and 4 full-time equivalent employees. Annual operating costs include travel and other operating expenses. Members shall serve without compensation but may receive travel expenses, including per diem in lieu of subsistence, as authorized by law, consistent with the availability of funds.
8. Designated Federal Officer. The President, or his designee, will designate a full-time or permanent part-time officer or employee of the Federal Government to serve as the Designated Federal Officer (“DFO”). The DFO will attend all committee and subcommittee meetings.
9. Estimated Number and Frequency of Meetings. The Commission will meet once a month. The DFO shall ensure the meetings comply with the requirements of the Federal Advisory Committee Act (“FACA”) and its implementing regulations. Commission meetings shall be open to the public unless closed pursuant to section 10(d) of FACA.
10. Duration. Executive Order 13531 authorizes the Commission to operate until 30 days after it submits its final report. A vote on the approval of a final report is required not later than December 1, 2010.
11. Termination. The Commission shall terminate 30 days after submitting its final report.
12. Membership and Designation. The Commission shall be composed of 18 members who shall be selected as follows:
(1) six members appointed by the President, not more than four of whom shall be from the same political party and will serve as Special Government Employees;
(2) three members selected by the Majority Leader of the Senate, all of whom shall be current Members of the Senate and serve as regular Government Employees;
(3) three members selected by the Speaker of the House of Representatives, all of whom shall be current Members of the House of Representatives and serve as regular Government Employees ;
(4) three members selected by the Minority Leader of the Senate, all of whom shall be current Members of the Senate and serve as regular Government Employees; and
(5) three members selected by the Minority Leader of the House of Representatives, all of whom shall be current Members of the House of Representatives and serve as regular Government Employees.
From among his appointees, the President shall designate two members, who shall not be of the same political party, to serve as Co-Chairs of the Commission. The Commission shall be headed by an Executive Director, who will provide management and leadership for staff operations, and may also serve as the Designated Federal Officer.
13. Subcommittees. The Co-Chairs, in consultation with the Executive Director, have the authority to create such subcommittees as necessary for the Commission to conduct its work. These subcommittees must report their work to the Commission and do not provide advice or work products directly to the EOP.
14. Recordkeeping. Records of the Commission and the respective subcommittees or subgroups will be maintained pursuant to the Presidential Records Act of 1978 and FACA.
15. Filing Date: April 22, 2010.