Washington (CNN) - The co-chairs of the Congressional debt-crisis "super committee" announced their long-awaited first meeting and hearing dates in a statement released Friday.
The Joint Select Committee on Deficit Reduction is holding their first full committee meeting Thursday morning, September 8th, where members will make opening statements and consider committee rules, according to a statement released by co-chairs Rep. Jeb Hensarling, R-Texas, and Sen. Patty Murray, D-Washington.
The committee will then meet again the following Tuesday, September 13th, for their first hearing on, "The History and Drivers of Our Nation's Debt and Its Threats." Joining the hearing as a witness will be Dr. Douglas Elmendorf, director of the Congressional Budget Office.
Leaders from the House and Senate formed the committee earlier this month after raising the nation's debt ceiling and tasked them with finding an additional $1.5 trillion in savings over the next decade. The 12-member bipartisan panel must propose cuts by November 23rd and hold votes on the cuts one month later.
If Congress can't agree to those reductions, automatic cuts will take effect in programs like defense and entitlement; something neither party desires.
–CNN's Kate Bolduan contributed to this report