Establishment of national bipartisan fiscal commission

(a) Establishment Not later than 90 days after the enactment of this Act, there shall be established within the legislative branch a Commission to be known as the National Bipartisan Fiscal Commission (referred to in this title as the Commission). (b) Membership (1) Composition The Commission shall be composed of 20 members, including the following: (A) 4 members of Congress, not more than two who shall be from the same party, appointed by the President. (B) 4 members of Congress from each of the Speaker of the House, the Minority Leader in the House, the Majority Leader in the Senate, and the Minority Leader in the Senate. (2) Appointment Members of the Commission shall be appointed not later than 30 days after the establishment of the Commission. (3) Chair Two of the members of the Commission appointed by the President shall be designated by the President to serve as Chair and Vice Chair of the Commission. (c) Duties The Commissions shall review and recommend a legislative package for Congress to stabilize long-term deficits and debt, as well as require CBO to consider the cost of servicing the debt in its estimations. (d) Report Not later than 18 months after, the Commission shall submit to Congress a report which includes their review and recommendation required by subsection (c), including the legislative package required by such subsection. (e) Powers of commission (1) Subpoena power (A) In general In carrying out this section, the Commission may require, by subpoena or otherwise, the attendance and testimony of such witnesses and the production of such books, records, correspondence, memorandums, papers, and documents as the Commissions deems necessary. (B) Issuance A subpoena may be issued under this paragraph subsection only by the agreement of the chair and the vice chair of the Commission or by the affirmative vote of ten voting members of the Commission. (C) Service A subpoena may be served by any person designated by the chair of the Commission, in consultation with the vice chair of the Commission, or any such voting member of the Commission designated by the chair in consultation with the vice chair. (2) Hearings and evidence The Commission, or on the authority of the Commission, may for the purpose of carrying out this section hold such hearings, sit and act at such times and places, take testimony, and receive such evidence as the Commission may deem advisable. (3) Oaths The chair of the Commission, the vice chair of the Commission, or any voting member of the Commission designated by the chair may administer oaths to any witness. (f) Operation of commission (1) Initial meeting The Commission shall meet and begin operations of the Commission as soon as practicable, but in any case not later than 180 days after the date of the enactment of this Act. (2) Quorum After its initial meeting, the Commission shall meet upon the call of the chair or a majority of its voting members. Ten voting members of the Commission shall constitute a quorum. (3) Vacancy Any vacancy in the Commission shall not affect its powers but shall be filled in the same manner in which the original appointment was made and within 90 days of the vacancy. (g) Nonapplicability of Federal advisory committee act Chapter 10 of title 5, United States Code (commonly referred to as the Federal Advisory Committee Act) shall not apply to the Commission.