Sen. Patty Murray (D-Wash.) is one of a dozen lawmakers on the debt supercommittee, tasked with producing a deficit-cutting plan by Thanksgiving. (AP Photo/Susan Walsh, File)

The bipartisan “supercommittee” tasked with identifying $1.5 trillion in deficit savings over the next decade will hold its first meeting next week, on the same day that President Obama is expected to address a joint session of Congress on job creation.

Sen. Patty Murray (D-Wash.) and Rep. Jeb Hensarling (R-Texas), the co-chairs of the 12-member panel, said in a joint statement that the group’s first meeting will take place at 10:30 a.m. on Thursday.

The gathering, which is expected to take place in Room 2123 of the Rayburn House Office Building, will be an organizational meeting at which members will make opening statements and consider the proposed committee rules.

Members of the bipartisan panel will hold their first formal hearing the following week, at 10:30 a.m. Sept. 13, in Room 216 of the Hart Senate Office Building. The focus of the meeting is “The History and Drivers of Our Nation’s Debt and Its Threats.” Doug Elmendorf, the director of the Congressional Budget Office, is expected to testify.

Both meetings are open to the public and the press, according to the release from Hensarling and Murray.

Next Thursday’s meeting will take place hours before Obama delivers his much-anticipated address on jobs and the economy before a joint session of Congress; the president’s speech is slated for 8 p.m.

The Senate returns to Washington next Tuesday after its August recess, while the House is set to reconvene on Wednesday. Both chambers have a busy month ahead that’s likely to include several debt supercommittee hearings as well as wrangling over appropriations, regulations, and Federal Aviation Administration and transportation bills.

The bipartisan panel’s Democrats held a conference call Wednesday to discuss their strategy, one day after Republicans held a lengthy meeting at the Capitol. A Democratic aide said that the panel’s Democrats are expecting to hold a meeting next week as well.