Sec. 4. Establishment of Rescue Committees
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On the date on which the Secretary submits the report under section 3, there shall be established a Rescue Committee for each critical social contract program. The goals of each Rescue Committee shall be to, with respect to the critical social contract program for which the Rescue Committee is established— avoid depletion of the Federal trust fund established for the critical social contract program; provide for the solvency of the Federal trust fund established for the critical social contract program during the 75-year period beginning on the date described in paragraph (1); simplify the critical social contract program to the extent practicable; and otherwise improve the critical social contract program.
Each Rescue Committee may develop recommendations and legislative language that will significantly improve the critical social contract program for which the Rescue Committee is established, including by— increasing the duration of positive balances of the Federal trust fund established for the critical social contract program; and to the extent practicable, providing for the solvency of the Federal trust fund established for the critical social contract program during the 75-year period beginning on the date described in paragraph (1).
Not later than 30 days after the date described in paragraph (1), each committee of the Senate and the House of Representatives may transmit to the relevant Rescue Committee any recommendations of the committee relating to changes in law to improve the critical social contract program for which the Rescue Committee is established in accordance with the goals of the Rescue Committee described in paragraph (2). Not later than November 12, 2020, each Rescue Committee shall meet to consider, and may vote on— a report that contains a detailed statement of the findings, conclusions, and recommendations of the Rescue Committee described in subparagraph (A)(i) and the estimate of the Congressional Budget Office required under paragraph (5)(D)(ii); and legislative language to carry out the recommendations of the Rescue Committee in the report described in subclause (I), which shall include a statement of the economic and budgetary effects of the recommendations during the 75-year period beginning on the date described in paragraph (1).
Any proposed change to the Standing Rules of the Senate or the Rules of the House of Representatives included in a report or legislative language under clause
(i)shall be considered to be merely advisory. A report and legislative language of a Rescue Committee under clause
(i)shall require the approval of a majority of the members of the Rescue Committee, provided that such majority shall be required to include not less than 2 members of each party. A member of a Rescue Committee who gives notice of an intention to file supplemental, minority, or additional views at the time of the final Rescue Committee vote on the approval of the report and legislative language of the Rescue Committee under clause
(i)shall be entitled to 3 days to file those views in writing with the staff director of the Rescue Committee. Views filed under subclause
(I)shall be included in the report of the relevant Rescue Committee under clause
(i)and printed in the same volume, or part thereof, and such inclusion shall be noted on the cover of the report, except that, in the absence of timely notice, the report may be printed and transmitted immediately without such views. Upon the approval or disapproval of a report and legislative language under clause
(i)by a Rescue Committee, the Rescue Committee shall promptly make the report, the legislative language, and a record of the vote on the report and legislative language available to the public. If a report and legislative language are approved by a Rescue Committee under 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 (v), the Rescue Committee 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. Nothing in this subparagraph shall be construed to prohibit a Rescue Committee from voting on a report and legislative language under clause
(i)before November 12, 2020. Each Rescue Committee shall be composed of 12 members appointed in accordance with subparagraph (B). Not later than 14 days after the date described in paragraph (1), with respect to each Rescue Committee— the majority leader of the Senate shall appoint 3 individuals from among the Members of the Senate who shall serve as members of the Rescue Committee; the minority leader of the Senate shall appoint 3 individuals from among the Members of the Senate who shall serve as members of the Rescue Committee; the Speaker of the House of Representatives shall appoint 3 individuals from among the Members of the House of Representatives who shall serve as members of the Rescue Committee; and the minority leader of the House of Representatives shall appoint 3 individuals from among the Members of the House of Representatives who shall serve as members of the Rescue Committee. Not later than 14 days after the date described in paragraph (1), with respect to each Rescue Committee— the majority leader of the Senate shall appoint 1 individual from among the members of the Rescue Committee who shall serve as a co-chair of the Rescue Committee; and the Speaker of the House of Representatives shall appoint 1 individual from among the members of the Rescue Committee who shall serve as a co-chair of the Rescue Committee. With respect to each Rescue Committee, the co-chairs of the Rescue Committee, acting jointly, shall hire the staff director of the Rescue Committee. The members of a Rescue Committee shall be appointed for the life of the Rescue Committee. Any vacancy in a Rescue Committee shall not affect the powers of the Rescue Committee, 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. If a member of a Rescue Committee ceases to be a Member of the Senate or the House of Representatives, as applicable— the member shall no longer be a member of the Rescue Committee; and a vacancy in the Rescue Committee exists. With respect to each Rescue Committee, to enable the Rescue Committee to exercise the powers, functions, and duties of the Rescue Committee, there are authorized to be disbursed by the Senate the actual and necessary expenses of the Rescue Committee approved by the co-chairs of the Rescue Committee, subject to the rules and regulations of the Senate. With respect to each Rescue Committee, in carrying out the functions of the Rescue Committee, the Rescue Committee 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) ). With respect to each Rescue Committee, 7 members of the Rescue Committee shall constitute a quorum for purposes of voting, meeting, and holding hearings. No proxy voting shall be allowed on behalf of any member of a Rescue Committee. The Director of the Congressional Budget Office shall, with respect to the legislative language of a Rescue Committee under paragraph (3)(B)(i)(II), provide to the Rescue Committee— 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) and 601(f)); and information on the budgetary effect of the legislative language during the 75-year period beginning on the date described in paragraph (1). A Rescue Committee may not vote on any version of the report, recommendations, or legislative language of the Rescue Committee under paragraph (3)(B)(i) unless the estimates and information described in subclause
(I)of this clause are made available for consideration by all members of the Rescue Committee not later than 48 hours before that vote, as certified by the co-chairs of the Rescue Committee. Not later than 45 days after the date described in paragraph (1), each Rescue Committee shall hold the first meeting of the Rescue Committee. For each meeting of each Rescue Committee, the co-chairs of the Rescue Committee shall provide an agenda to the members of the Rescue Committee not later than 48 hours before the meeting. Each Rescue Committee 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 Rescue Committee considers advisable. The co-chairs of each Rescue Committee 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. A witness appearing before a Rescue Committee 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 Rescue Committee— determine that there is good cause for the witness to not file the written statement; and waive the requirement that the witness file the written statement. Upon written request of the co-chairs of a Rescue Committee, the head of a Federal agency shall provide technical assistance to the Rescue Committee in order for the Rescue Committee to carry out the duties of the Rescue Committee. The co-chairs of a Rescue Committee may jointly appoint and fix the compensation of staff of the Rescue Committee as the co-chairs determine necessary, in accordance with the guidelines, rules, and requirements relating to employees of the Senate. Members of the Senate who serve on a Rescue Committee and staff of the Rescue Committee shall adhere to the ethics rules of the Senate. Members of the House of Representatives who serve on a Rescue Committee shall be governed by the ethics rules and requirements of the House of Representatives. Each Rescue Committee shall terminate on the day after the date of the sine die adjournment of the 116th Congress.
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