S. 2627 would provide for a biennial budget process and a biennial appropriations process and it would enhance oversight and the performance of the Federal Government.
Detailed Summary
Biennial Budgeting and Appropriations Act- Amends the Congressional Budget Act of 1974 to require: (1) biennial (currently, annual) budget resolutions; (2) biennial appropriations Acts; and (3) biennial government strategic and performance plans.
Defines the budget biennium as the two consecutive fiscal years beginning on October 1 of any odd-numbered year.
Requires the Director of the Office of Management and Budget (OMB) to: (1) determine the impact and feasibility of changing the definition of a fiscal year and the budget process based on that definition to a two-year fiscal period with a biennial budget process based on such period; and (2) report the findings to the House and Senate Budget Committees.
Status of the Legislation
Latest Major Action: 2/13/2008: Referred to Senate committee. Status: Read twice and referred to the Committee on the Budget.
Points in Favor
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Points Against
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