This bill would change how Congress makes its budget. It moves the congressional budget process from annual to biennial (two-year) budget resolutions. It revises many deadlines and rules so a concurrent resolution on the budget covers two fiscal years (a biennium). The bill updates committee allocations, reconciliation rules, and House rules to match a biennial schedule. It creates a National Commission on Fiscal Responsibility and Reform with 18 members (appointments split among the President and congressional leaders). The Commission must propose recommendations to improve the medium- and long-term fiscal situation and to reach an annual deficit equal to 3 percent of GDP by the end of 10 years after the Commission is established. The bill requires the Commission to publish reports (approved by at least 12 members, including at least 4 members from each of the two main House parties) and allows the Commission to transmit a proposed joint resolution with implementing language. The bill sets special, expedited procedures in both Houses to consider a Commission joint resolution without amendment. Other provisions require new-member CBO briefings, require OMB to include long-term unfunded obligations analysis in the budget (25-, 50-, and 75-year windows), require an annual supplemental administrative budget from the President starting in 2028, and require hearings after the audited financial statement is submitted. The title takes effect immediately before noon January 3, 2027.
If you follow federal budgeting, this bill would change the timing and format of Congressional budget work. Instead of an annual budget resolution, Congress would adopt a biennial budget covering two fiscal years and update it as needed during the second session. A new commission would study fiscal sustainability and deliver recommendations that Congress could consider under fast-track procedures. New Members of Congress would receive an official CBO briefing before being sworn in. The executive branch would provide new long-term funding and obligation analyses as part of the budget documents.
No publicly available information on the total cost of the bill. The bill authorizes appropriations "such sums as may be necessary" to support the Commission and says those sums remain available until expended. It states Commission members serve without additional pay, allows travel reimbursements, and caps staff pay at the Executive Schedule level V equivalent.
According to the bill text, the changes are meant to facilitate biennial determination of appropriate revenue and spending levels, give Congress more time in the second session to study long-term budget issues, modernize budget committees, and produce Commission recommendations aimed at improving the medium- and long-term fiscal outlook (including a specific 3 percent of GDP deficit target over 10 years). The bill text also emphasizes greater public reporting (Commission website, attendance records) and faster floor consideration of the Commission's implementing joint resolution.
No publicly available information.