The new Joint Committee on Deficit Reduction will work together and create $1.5 trillon debt reduction measures as outlined in the Budget Control Act.

One of the requirements included in the Budget Control Act which was recently signed into law is the formation of a new “super committee.” Made up of 12 lawmakers, six republicans and six democrats, their duty is to design $1.5 trillion in debt reduction by Nov. 23. The committee has unprecendented power to make budget and other financial decisions. Proposals created by the committee merely need to be brought to Congress and a simple majority vote will pass.

For a more in depth look at the works and design of the Joint Select Committee on Deficit Reduction, GSI partner K&L Gates wrote an overview of the Joint Committee that can be found here.