Sponsors (16)
Official title: To implement reforms to the budget and appropriations process in the House of Representatives, and for other purposes.
Introduced June 24, 2026 by Steve Womack · Last progress June 24, 2026
The bill boosts multi‑year fiscal planning, transparency, and congressional information to encourage long‑term sustainability, but it raises administrative costs, reduces short‑term flexibility, concentrates procedural power, and could lead to spending cuts or tax increases that hurt vulnerable Americans.
Taxpayers, federal programs, and state/local governments get multi-year budgeting and clearer fiscal planning because Congress will set multi-year revenue and spending levels every two years, improving longer-term policy stability and predictability.
Taxpayers, markets, and policymakers gain much better fiscal transparency because budget resolutions and the President’s budget must report debt/GDP and deficit/GDP ratios, provide subtotals (defense, nondefense, direct spending, net interest), and require tax-expenditure totals and reporting on unpaid/late liabilities.
Taxpayers and middle‑class families could benefit from lower future deficits if the independent Commission’s recommendations are adopted and reduce the federal deficit toward about 3% of GDP within ten years, easing long‑term fiscal pressure.
Seniors, low‑income individuals, and middle‑class families could face reduced benefits or higher taxes because meeting the Commission’s 3% of GDP deficit target may require spending cuts or tax increases.
Taxpayers, state and local governments, grantees, and federal agencies face greater short‑term funding uncertainty and a slower congressional response to economic shocks because the shift to a biennial budget cycle reduces the frequency of formal budget reviews and updates.
Federal agencies (CBO, OMB, Treasury) and committees will incur higher data‑collection and analysis workloads and costs to meet more detailed reporting requirements, potentially diverting staff time and raising administrative costs borne by taxpayers.
Based on analysis of 3 sections of legislative text.
Shifts Congress from annual to biennial budget resolutions, creates a fiscal‑reform commission, and requires expanded long‑term budget reporting and analyses.
Converts the Congressional budget process from annual to biennial cycles, expands what a budget resolution must include, and creates a statutory National Commission on Fiscal Responsibility and Reform to propose deficit- and debt-reduction policies. It also increases reporting and long-term fiscal analysis requirements for the President, strengthens information and orientation requirements for Congress, and adjusts certain Budget Committee rules and membership ex officio additions. The bill requires new definitions (including "biennium" and "direct spending"), adds specific budget subtotals and fiscal ratios to concurrent resolutions, mandates long-term unfunded obligation reporting, establishes an 18-member bipartisan commission with voting rules and publication requirements, and sets new deadlines and procedural steps for congressional budget work and agency assistance.