text: SECTION 1. SHORT TITLE.
  
      This Act may be cited as the ``Commission On Reforming Entitlement 
  Spending Act'' or the ``CORE Spending Act''.
  
  SEC. 2. ESTABLISHMENT.
  
      There is established a commission to be known as the ``Commission 
  On Reforming Entitlement Spending'' (hereinafter in this Act referred 
  to as the ``Commission'').
  
  SEC. 3. DUTIES OF COMMISSION.
  
      (a) Mandatory Legislation Development.--
              (1) Issues to address.--The Commission shall examine the 
          long-term fiscal challenges facing the United States and 
          develop legislation designed to address the following issues:
                      (A) The unsustainable imbalance between long-term 
                  Federal spending commitments and projected revenues.
                      (B) Increasing net national savings to provide for 
                  domestic investment and economic growth.
                      (C) The implications of foreign ownership of debt 
                  instruments issued by the United States Government.
                      (D) Improving the budget process to place greater 
                  emphasis on long-term fiscal issues.
              (2) Policy solutions.--Legislation developed to address the 
          issues described in paragraph (1) may include the following:
                      (A) Reforms that limit the growth of entitlement 
                  spending to ensure that the programs are fiscally 
                  sustainable.
                      (B) Reforms that strengthen the safety net 
                  functions of entitlement programs to provide assistance 
                  to the neediest people.
                      (C) Incentives to increase private savings.
                      (D) Automatic stabilizers or triggers to enforce 
                  spending and revenue targets.
                      (E) Any other reforms designed to address the 
                  issues described in paragraph (1).
              (3) Limitation.--The legislation developed under this 
          subsection may not include any new, or any increase in an 
          existing, Federal tax.
      (b) Optional Development of Cost Estimate Alternatives.--The 
  Commission shall by an affirmative vote of 5 members develop not more 
  than 2 methods for estimating the cost of legislation as an alternative 
  to the method currently used by the Congressional Budget Office. Any 
  such alternative method must be designed to address any flaws in the 
  method currently used with regard to estimating the positive economic 
  effects of legislation.
  
  SEC. 4. INITIAL TOWN HALL STYLE PUBLIC HEARINGS.
  
      (a) In General.--The Commission shall hold at least 1 town hall 
  style public hearing within each Federal reserve district, and shall, 
  to the extent feasible, ensure that there is broad public participation 
  in the hearings.
      (b) Hearing Format.--During each hearing, the Commission shall 
  present to the public, and generate comments and suggestions regarding, 
  the issues described in section 3, policies designed to address the 
  issues, and tradeoffs between the policies.
  
  SEC. 5. REPORT.
  
      The Commission shall, not later than 180 days after the date of 
  enactment of this Act, submit a report to Congress and the President 
  containing the following:
              (1) A detailed description of the activities of the 
          Commission.
              (2) A summary of comments and suggestions generated from 
          the town hall style public hearings.
              (3) A detailed statement of any findings of the Commission 
          as to public preferences regarding the issues, policies, and 
          tradeoffs presented in the town hall style public hearings.
              (4) A detailed description of the long-term fiscal problems 
          faced by the United States.
              (5) A list of policy options for addressing those problems.
              (6) Criteria for the legislative proposal to be developed 
          by the Commission.
  
  SEC. 6. LEGISLATIVE PROPOSAL.
  
      (a) In General.--Not later than 60 days after the date the report 
  is submitted under section 5 and by a vote of two-thirds of the 
  members, the Commission shall submit a legislative proposal to Congress 
  and the President designed to address the issues described section 3.
      (b) Proposal Requirements.--The proposal must, to the extent 
  feasible, be designed--
              (1) to achieve generational equity and long-term economic 
          stability;
              (2) to address the comments and suggestions of the public; 
          and
              (3) to meet the criteria set forth in the Commission 
          report.
      (c) Inclusion of Cost Estimate.--The Commission shall submit with 
  the proposal--
              (1) a long-term CBO cost estimate prepared under section 14 
          for the proposal; and
              (2) if an alternative cost estimate method is developed by 
          the Commission, a 50-year cost estimate using such method.
  
  SEC. 7. MEMBERSHIP AND MEETINGS.
  
      (a) In General.--The Commission shall be composed of 15 voting 
  members appointed pursuant to paragraph (1) and 2 nonvoting members 
  described in paragraph (2).
              (1) Voting members.--(A) The President shall appoint 3 
          members, one of which the President shall appoint as 
          chairperson of the Commission.
              (B) The Speaker of the House of Representatives shall 
          appoint 3 members.
              (C) The minority leader of the House of Representatives 
          shall appoint 3 members.
              (D) The majority leader of the Senate shall appoint 3 
          members.
              (E) The minority leader of the Senate shall appoint 3 
          members.
              (2) Nonvoting members.--The Comptroller General of the 
          United States and the Director of the Congressional Budget 
          Office shall each be nonvoting members of the Commission and 
          shall advise and assist at the request of the Commission.
      (b) Limitation as to Members of Congress.--Each appointing 
  authority described in subsection (a)(1) who is a Member of Congress 
  may only appoint 1 Member of Congress to the Commission.
      (c) Date for Original Appointment.--The appointing authorities 
  described in subsection (a)(1) shall appoint the initial members of the 
  Commission not later than 30 days after the date of enactment of this 
  Act.
      (d) Terms.--
              (1) In general.--The term of each member is for the life of 
          the Commission.
              (2) Vacancies.--A vacancy in the Commission shall be filled 
          not later than 30 days after such vacancy occurs and in the 
          manner in which the original appointment was made.
      (e) Pay and Reimbursement.--
              (1) No compensation for members of commission.--Except as 
          provided in paragraph (2), a member of the Commission may not 
          receive pay, allowances, or benefits by reason of their service 
          on the Commission.
              (2) Travel expenses.--Each member shall receive travel 
          expenses, including per diem in lieu of subsistence under 
          subchapter I of chapter 57 of title 5, United States Code.
      (f) Meetings.--The Commission shall meet upon the call of the 
  chairperson or a majority of its voting members.
      (g) Quorum.--Six voting members of the Commission shall constitute 
  a quorum, but a lesser number may hold hearings.
  
  SEC. 8. DIRECTOR AND STAFF OF COMMISSION.
  
      (a) Director.--
              (1) In general.--Subject to subsection (c) and to the 
          extent provided in advance in appropriation Acts, the 
          Commission shall appoint and fix the pay of a director.
              (2) Duties.--The director of the Commission shall be 
          responsible for the administration and coordination of the 
          duties of the Commission and shall perform other such duties as 
          the Commission may direct.
      (b) Staff.--In accordance with rules agreed upon by the Commission, 
  subject to subsection (c), and to the extent provided in advance in 
  appropriation Acts, the director may appoint and fix the pay of 
  additional personnel.
      (c) Applicability of Certain Civil Service Laws.--The director and 
  staff of the Commission may be appointed without regard to the 
  provisions of title 5, United States Code, governing appointments in 
  the competitive service, and may be paid without regard to the 
  provisions of chapter 51 and subchapter III of chapter 53 of that title 
  relating to classification and General Schedule pay rates, except that 
  pay fixed under subsection (a) may not exceed $150,000 per year and pay 
  fixed under subsection (b) may not exceed a rate equal to the daily 
  equivalent of the annual rate of basic pay for level V of the Executive 
  Schedule under section 5316 of title 5, United States Code.
      (d) Detailees.--Any Federal Government employee may be detailed to 
  the Commission without reimbursement from the Commission, and such 
  detailee shall retain the rights, status, and privileges of their 
  regular employment without interruption.
      (e) Experts and Consultants.--In accordance with rules agreed upon 
  by the Commission and to the extent provided in advance in 
  appropriation Acts, the director may procure the services of experts 
  and consultants under section 3109(b) of title 5, United States Code, 
  but at rates not to exceed the daily equivalent of the annual rate of 
  basic pay for level V of the Executive Schedule under section 5316 of 
  title 5, United States Code.
  
  SEC. 9. POWERS OF COMMISSION.
  
      (a) Hearings and Evidence.--The Commission may, for the purpose of 
  carrying out this Act, hold such hearings in addition to the town hall 
  style public hearings, sit and act at such times and places, take such 
  testimony, and receive such evidence as the Commission considers 
  appropriate. The Commission may administer oaths or affirmations to 
  witnesses appearing before it.
      (b) Powers of Members and Agents.--Any member or agent of the 
  Commission may, if authorized by the Commission, take any action which 
  the Commission is authorized to take under this section.
      (c) Mails.--The Commission may use the United States mails in the 
  same manner and under the same conditions as other departments and 
  agencies of the United States.
      (d) Administrative Support Services.--Upon the request of the 
  Commission, the Administrator of General Services shall provide to the 
  Commission, on a reimbursable basis, the administrative support 
  services necessary for the Commission to carry out its responsibilities 
  under this Act.
      (e) Contract Authority.--To the extent provided in advance in 
  appropriation Acts, the Commission may enter into contracts to enable 
  the Commission to discharge its duties under this Act.
      (f) Gifts.--The Commission may accept, use, and dispose of gifts or 
  donations of services or property.
  
  SEC. 10. TERMINATION.
  
      The Commission shall terminate 60 days after submitting its 
  legislative proposal.
  
  SEC. 11. ALTERNATIVE LEGISLATIVE PROPOSAL OF PRESIDENT.
  
      The President may, not later than 60 days after the Commission 
  submits its legislative proposal, submit to Congress an alternative to 
  the legislative proposal submitted by the Commission.
  
  SEC. 12. ALTERNATIVE LEGISLATIVE PROPOSAL OF THE COMMITTEE ON THE 
                BUDGET.
  
      The Committee on the Budget of either House may, in consultation 
  with the relevant committees of their respective House and not later 
  than 60 days after the Commission submits its legislative proposal, 
  have published in the Congressional Record an alternative to the 
  legislative proposal submitted by the Commission.
  
  SEC. 13. CONSIDERATION OF LEGISLATION.
  
      (a) Introduction.--On the first legislative day after the 
  Commission submits its legislative proposal, the Speaker of the House 
  of Representatives and the Majority Leader of the Senate shall 
  introduce (by request) the legislation submitted by the Commission.
      (b) In the House of Representatives.--
              (1) Privileged consideration.--In the House of 
          Representatives, if a committee to which the legislation has 
          been referred has not reported the legislation before the 
          expiration of the 60-day period described in section 12, then--
                      (A) that committee shall be discharged from 
                  consideration of the legislation;
                      (B) the legislation shall be placed on the 
                  appropriate calendar; and
                      (C) a motion to proceed to the consideration of the 
                  legislation is highly privileged and is not debatable.
              (2) Amendments limited.--
                      (A) In general.--Except as provided in subparagraph 
                  (B), an amendment to the legislation may not be offered 
                  in the House of Representatives.
                      (B) Permitted amendments.--(i) Any Member may 
                  offer, as an amendment in the nature of a substitute, 
                  the alternative legislative proposal submitted by the 
                  President.
                      (ii) Any Member may offer, as an amendment in the 
                  nature of a substitute, the alternative legislative 
                  proposal submitted by the Commission.
                      (iii) The chairman of the House Committee on the 
                  Budget may offer, as an amendment in the nature of a 
                  substitute, the alternative legislative proposal 
                  published in the Congressional Record by the House 
                  Committee on the Budget.
                      (C) Points of order.--An amendment offered under 
                  subparagraph (B) is subject to a point of order if--
                              (i) the amendment is not accompanied by a 
                          long-term CBO cost estimate of the amendment; 
                          or
                              (ii) the long-term CBO cost estimate of the 
                          amendment exceeds the long-term CBO cost 
                          estimate of the legislative proposal submitted 
                          by the Commission.
                      (D) Multiple amendments.--If more than one 
                  amendment is offered under this paragraph, then each 
                  amendment shall be considered separately, and the 
                  amendment receiving both a majority and the highest 
                  number of votes shall be the amendment adopted.
  
  SEC. 14. LONG-TERM CBO COST ESTIMATE.
  
      (a) Preparation and Submission.--When the Commission, the 
  President, or the chairman of the Committee on the Budget of either 
  House submits a written request to the Director of the Congressional 
  Budget Office for a long-term CBO cost estimate of legislation proposed 
  under this Act or an amendment referred to in section 13(b)(2)(B), the 
  Director shall prepare the estimate and have it published in the 
  Congressional Record as expeditiously as possible.
      (b) Content.--A long-term CBO cost estimate shall include--
              (1) an estimate of the cost of each provision of the 
          legislation or amendment for first fiscal year it would take 
          effect and for each of the 50 fiscal years thereafter; and
              (2) a statement of any estimated future costs not reflected 
          by the estimate described in paragraph (1).
target: Commission On Reforming Entitlement Spending Act, or CORE Spending Act - Establishes the Commission On Reforming Entitlement Spending to examine the long-term fiscal challenges facing the United States and develop legislation designed to address them.
  
  Authorizes the President and the House or Senate Budget Committee to submit alternatives to the legislative proposal submitted by the Commission.
  
  Requires the Director of the Congressional Budget Office (CBO) to prepare a long-term cost estimate of legislation proposed under this Act or a related amendment, and have it published in the Congressional Record as expeditiously as possible.
feat_title: To establish a commission to develop legislation designed to reform entitlement benefit programs and ensure a sound fiscal future for the United States, and for other purposes.