Congressional action on cost-of-living emergency

(a) Establishment of Cost-of-Living Commission (1) Establishment There is hereby established in Congress a Cost-of-Living Commission. (2) Duties (A) General The Commission shall identify policies to— (i) meaningfully improve the cost-of-living situation for the average U.S. household in the short- and medium- term, including by reducing cost drivers for specified sectors; and (ii) achieve national economic growth that maintains a stable and sustainable cost of living over the long run. (B) Recommendations of committees Not later than 60 days after the date of enactment of this Act, each committee of the Senate and the House of Representatives may transmit to the Commission any recommendations of the committee to further the legislative policies described in subparagraph (A). (C) Interim report The Commission may meet to consider, and vote on, an interim report on— (i) any findings, conclusions, or recommendations of the Commission relating to the policies identified under subparagraph (A); and (ii) as the Commission determines appropriate, any findings resulting from any hearing held or evidence received by the Commission. (D) Report, recommendations, and legislative language (i) Policy recommendations; permanent actions (I) Policy recommendations Not later than 180 days after the date of enactment of this Act, the Commission shall meet to consider and vote on— (aa) a report that contains a detailed statement of the findings, conclusions, and recommendations of the Commission relating to the policies identified under subparagraph (A) and the estimate of the Congressional Budget Office required under paragraph (4)(D); and (bb) legislative language to carry out the recommendations of the Commission relating to the policies identified under subparagraph (A), which shall include a statement of the economic and budgetary effects of the recommendations. (II) Permanent actions Not later than 30 days before the date on which the emergency declared under section 3 terminates, the Commission shall meet to consider and vote on— (aa) a report that contains a detailed statement of the actions that were taken in accordance with this Act and findings as to whether any of those actions should be made continued after the date on which the emergency declared under section 3 terminates; and (bb) if the Commission finds that the actions taken in accordance with this Act should be continued after the date on which the emergency declared under section 3 terminates, legislative language to carry out the actions, which shall include a statement of the economic and budgetary effects of the actions. (ii) Approval of report and legislative language A report and legislative language of the Commission under subclause (I) or (II) of clause (i) shall require the approval of a majority of the members of the Commission, provided that such majority shall be required to include not fewer than 2 members of the Commission appointed by members of the Republican Party and not fewer than 2 members appointed by members of the Democratic party. (iii) Additional views A member of the Commission who gives notice of an intention to file supplemental, minority, or additional views at the time of the final Commission vote on the approval of the report and legislative language of the Commission under subclause (I) or (II) of clause (i) shall be entitled to 3 days to file those views in writing with the staff director of the Commission, and such report shall be included in the report of the Commission published under clause (iv). (iv) Report and legislative language to be made public Upon the approval or disapproval by the Commission of a report and legislative language under subclause (I) or (II) of clause (i), the Commission shall promptly, and not more than 24 hours after the approval or disapproval or, if timely notice is given under clause (iii), not more than 24 hours after additional views are filed under that clause, make the report, the legislative language, and a record of the vote on the report and legislative language available to the public. (v) Submission of report and legislative language If a report and legislative language are approved by the Commission under subclause (I) or (II) of clause (i), not later than 3 days after the date on which the report and legislative language are made available to the public under clause (iv), the Commission shall submit the report and legislative language to the President, the Vice President, the Speaker of the House of Representatives, and the majority and minority leaders of each House of Congress. (vi) Extension (I) In general The Commission may extend the deadline set forth in subclause (I) or (II) of clause (i), if the Commission determines that additional time is necessary to complete the duties of the Commission under this section. (II) Approval An extension under subclause (I) shall require the approval of a majority of the members of the Commission, provided that such majority shall be required to include not fewer than 2 members of the Commission appointed by members of the Republican Party and not fewer than 2 members appointed by members of the Democratic party. (3) Membership (A) In general Not later than 14 days after the date of enactment of this Act, and with due consideration to the chairs and ranking members of the committees and subcommittees of Congress that maintain subject matter jurisdiction, as applicable, the Commission shall be composed of 12 members appointed as follows: (i) 2 individuals from among the Members of the Senate, and 1 outside expert, appointed by the majority leader of the Senate. (ii) 2 individuals from among the Members of the Senate, and 1 outside expert, appointed by the minority leader of the Senate. (iii) 2 individuals from among the Members of the House of Representatives, and 1 outside expert, appointed by the Speaker of the House of Representatives. (iv) 2 individuals from among the Members of the House of Representatives, and 1 outside expert, appointed by the minority leader of the House of Representatives. (B) Co-chairs Not later than 14 days after the date of enactment of this Act, with respect to the Commission— (i) the leadership of the Senate and House of Representatives of the same political party as the President shall appoint 1 individual among the members of the Commission who shall serve as a co-chair of the Commission; and (ii) the leadership of the Senate and House of Representatives of the opposite political party as the President shall appoint 1 individual among the members of the Commission who shall serve as a co-chair of the Commission. (C) Staff director With respect to the Commission, the co-chairs, acting jointly, shall hire the staff director of the Commission. (D) Period of appointment The members of the Commission shall be appointed for the life of the Commission. (E) Vacancy Any vacancy in the Commission shall not affect the powers of the Commission, but shall be filled not later than 14 days after the date on which the vacancy occurs, in the same manner as the original appointment was made. (F) Ineligible members If a member of the Commission who was appointed as a Member of the Senate or the House Representatives ceases to be a Member of the Senate or the House of Representatives, as applicable— (i) the member shall no longer be a member of the Commission; and (ii) a vacancy in the Commission exists. (4) Administration (A) In general With respect to the Commission, to exercise the powers, functions, and duties of the Commission, there are authorized to be disbursed by the Senate the actual and necessary expenses of the Commission approved by the co-chairs of the Commission, subject to the rules and regulations of the Senate. (B) Expenses With respect to the Commission, in carrying out the functions of the Commission, the Commission is authorized to incur expenses in the same manner and under the same conditions as the Joint Economic Committee is authorized under section 11(d) of the Employment Act of 1946 (15 U.S.C. 1024(d)). (C) Quorum (i) In general With respect to the Commission, 7 members of the Commission shall constitute a quorum for purposes of voting, meeting, and holding hearings. (ii) Outside experts Outside experts shall not count for purposes of determining whether there is a quorum under this subparagraph. (D) Congressional Budget Office estimates The Director of the Congressional Budget Office shall, with respect to the legislative language proposed by the Commission under subclause (I)(bb) or (II)(bb) of paragraph (2)(D)(i), provide to the Commission— (i) estimates of the legislative language in accordance with sections 308(a) and 201(f) of the Congressional Budget Act of 1974 (2 U.S.C. 639(a), 601(f)); and (ii) information on the budgetary effects of the legislative language on the long-term fiscal outlook. (E) Hearings (i) In general The Commission may, for the purpose of carrying out this section, hold such hearings, sit and act at such times and places, require attendance of witnesses and production of books, papers, and documents, take such testimony, receive such evidence, and administer such oaths as the Commission considers advisable. (ii) Hearing procedures and responsibilities of co-chairs (I) Announcement The co-chairs shall make a public announcement of the date, place, time, and subject matter of any hearing to be conducted under this subparagraph not later than 7 days before the date of the hearing, unless the co-chairs determine that there is good cause to begin such hearing on an earlier date. (II) Written statement A witness appearing before the Commission shall file a written statement of the proposed testimony of the witness not later than 2 days before the date of the appearance of the witness, unless the co-chairs of the Commission determine that there is good cause for the witness to not file the written statement or waive the requirement. (iii) Hearing requirements The Commission shall hold not less than 6 hearings under this subparagraph, which shall include— (I) field hearings throughout the United States; (II) hearings to solicit testimony from appropriate officials of the executive branch; and (III) hearings to solicit testimony from Members of Congress (in this subclause defined as a member of the Senate or the House of Representatives, a Delegate to the House of Representatives, and the Resident Commissioner from Puerto Rico). (F) Technical assistance and consultation Upon written request of the co-chairs of the Commission, the head of a Federal agency (including a legislative branch agency) shall provide technical assistance to, and consult with, the Commission in order for the members Commission to carry out the duties of the Commission. (G) Outside expert Any outside expert appointed to the Commission— (i) shall not be considered to be a Federal employee for any purpose by reason of service on the Commission; and (ii) shall be allowed travel expenses, including per diem in lieu of subsistence, at rates authorized for employees of agencies under subchapter I of chapter 57 of title 5, United States Code, while away from the home or regular place of business of the outside expert in the performance of services for the Commission. (5) Staff of Commission (A) In general The co-chairs of Commission may jointly appoint and fix the compensation of staff of the Commission as the co-chairs determine necessary, in accordance with the guidelines, rules, and requirements relating to employees of the Senate. (B) Ethical standards (i) Senate A member of the Commission appointed by a Member of the Senate and staff of the Commission shall adhere to the ethics rules of the Senate. (ii) House of Representatives A member of the Commission appointed by a Member of the House of Representatives shall be governed by the ethics rules and requirements of the House of Representatives. (6) Termination The Commission shall terminate 30 days after the date the Commission submits the final report under paragraph (2)(D)(v). (b) Funding Funding for the Commission shall be derived in equal portions from— (1) the contingent fund of the Senate from the appropriations account Miscellaneous Items, subject to the rules and regulations of the Senate; and (2) the applicable accounts of the House of Representatives.