The co-chairs and the 10 other members will make opening statements and consider rules for the committee’s operation. The first public hearing will take place Sept. 13.
As part of the compromise debt ceiling law, the committee must submit a proposal by Nov. 23 that finds at least $1.5 trillion in budget savings over the next ten years.
If either the joint committee or Congress does not act by Dec. 23, automatic cuts will be split 50-50 between defense and non-defense spending.
Click here to watch the hearing.