Process and Rules
As Policymakers Search for the Right Fiscal Tool, Peterson-Pew Commission’s New Fiscal Toolbox Can Help
In Getting Back in the Black, the Peterson-Pew Commission on Budget Reform calls on policymakers to reform the federal budget process in order to help stabilize the nation’s debt-GDP ratio, a proposal advanced in the Commission first report Red Ink Rising. The Commission concludes that policymakers must improve the budget process through implementing fiscal targets, budgetary triggers, and increased transparency as part of a package of fiscal reforms.
The Peterson-Pew Commission has released a series of recommendations for reforming the federal budget process as a way to help stabilize the nation’s debt as a share of the economy. The report, Getting Back in the Black, concentrates on three primary areas of improvement: fiscal targets, budgetary triggers, and improved transparency.