Presidential DocumentExecutive Order 135312010-3725
National Commission on Fiscal Responsibility and Reform
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
February 23, 2010
Signed
February 18, 2010
Issuing agencies
Executive Office of the President
Full Text
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<title>Federal Register, Volume 75 Issue 35 (Tuesday, February 23, 2010)</title>
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[Federal Register Volume 75, Number 35 (Tuesday, February 23, 2010)]
[Presidential Documents]
[Pages 7927-7928]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2010-3725]
Presidential Documents
Federal Register / Vol. 75, No. 35 / Tuesday, February 23, 2010 /
Presidential Documents
___________________________________________________________________
Title 3--
The President
[[Page 7927]]
Executive Order 13531 of February 18, 2010
National Commission on Fiscal Responsibility and
Reform
By the authority vested in me as President by the
Constitution and the laws of the United States of
America, it is hereby ordered as follows:
Section 1. Establishment. There is established within
the Executive Office of the President the National
Commission on Fiscal Responsibility and Reform
(Commission).
Sec. 2. Membership. The Commission shall be composed of
18 members who shall be selected as follows:
(a) six members appointed by the President, not
more than four of whom shall be from the same political
party;
(b) three members selected by the Majority Leader
of the Senate, all of whom shall be current Members of
the Senate;
(c) three members selected by the Speaker of the
House of Representatives, all of whom shall be current
Members of the House of Representatives;
(d) three members selected by the Minority Leader
of the Senate, all of whom shall be current Members of
the Senate; and
(e) three members selected by the Minority Leader
of the House of Representatives, all of whom shall be
current Members of the House of Representatives.
Sec. 3. Co-Chairs. 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.
Sec. 4. Mission. The Commission is charged with
identifying policies to improve the fiscal situation in
the medium term and to achieve fiscal sustainability
over the long run. Specifically, the Commission shall
propose recommendations designed to balance the budget,
excluding interest payments on the debt, by 2015. This
result is projected to stabilize the debt-to-GDP ratio
at an acceptable level once the economy recovers. The
magnitude and timing of the policy measures necessary
to achieve this goal are subject to considerable
uncertainty and will depend on the evolution of the
economy. In addition, the Commission shall propose
recommendations 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.
Sec. 5. Reports. (a) No later than December 1, 2010,
the Commission shall vote on the approval of a final
report containing a set of recommendations to achieve
the mission set forth in section 4 of this order.
(b) The issuance of a final report of the
Commission shall require the approval of not less than
14 of the 18 members of the Commission.
Sec. 6. Administration. (a) Members of the Commission
shall serve without any additional compensation, but
shall be allowed travel expenses, including per diem in
lieu of subsistence, as authorized by law for persons
serving intermittently in Government service (5 U.S.C.
5701-5707), consistent with the availability of funds.
(b) The Commission shall have a staff headed by an
Executive Director.
[[Page 7928]]
Sec. 7. General. (a) The Commission shall terminate 30
days after submitting its final report.
(b) Nothing in this order shall be construed to
impair or otherwise affect:
(i) authority granted by law to an executive department, agency, or the
head thereof; or
(ii) functions of the Director of the Office of Management and Budget
relating to budgetary, administrative, or legislative proposals.
(c) This order is not intended to, and does not,
create any right or benefit, substantive or procedural,
enforceable at law or in equity by any party against
the United States, its departments, agencies, or
entities, its officers, employees, or agents, or any
other person.
<GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT>
(Presidential Sig.)
THE WHITE HOUSE,
February 18, 2010.
[FR Doc. 2010-3725
Filed 2-22-10; 8:45 am]
Billing code 3195-W0-P
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</html>Indexed from Federal Register on February 23, 2010.
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