(a) Declaration of Purpose.—Section 2(2) of the Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 621(2)) is amended by striking “each year” and inserting “biennially”.

(b) Definitions.—

(1) BUDGET RESOLUTION.—Section 3(4) of the Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 622(4)) is amended by striking “fiscal year” each place it appears and inserting “biennium”.

(2) BIENNIUM.—Section 3 of the Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 622) is amended by adding at the end the following:

“(12) The term ‘biennium’ means the period of 2 consecutive fiscal years beginning on October 1 of any odd-numbered year.”.

(a) Section heading.—The section heading of section 301 of the Congressional Budget Act of 1974 (2 U.S.C. 632) is amended by striking “Annual” and inserting “Biennial”.

(b) Contents of resolution generally.—Section 301(a) of the Congressional Budget Act of 1974 (2 U.S.C. 632(a)) is amended—

(1) by striking the matter preceding paragraph (1) and inserting the following:

“(a) Content of concurrent resolution on the budget.—On or before May 15 of each odd-numbered year (or, if applicable under section 300(b), June 15 of an odd-numbered year), Congress shall complete action on a concurrent resolution on the budget for the biennium beginning on October 1 of such year. The concurrent resolution shall—”;

(2) by redesignating paragraphs (1) through (7) as subparagraphs (A) through (G), respectively, and adjusting the margin accordingly;

(3) by inserting before subparagraph (A), as so redesignated, the following:

“(1) for any concurrent resolution on the budget, set forth appropriate levels for each fiscal year in such biennium and for at least each fiscal year of each of the ensuing 2 bienniums for the following—”;

(4) in paragraph (1)(D), as so redesignated, by striking “paragraph (1)” and inserting “subparagraph (A)”;

(5) in paragraph (1)(F), as so redesignated, by striking “for the fiscal year” and inserting “for each fiscal year in the biennium”;

(6) in paragraph (1)(G), as so redesignated—

(A) by striking “for the fiscal year” and inserting “for each fiscal year in the biennium”; and

(B) by striking the period at the end and inserting a semicolon; and

(7) by inserting before the matter following paragraph (1)(G), as so redesignated, the following:

“(2) for any concurrent resolution on the budget, include, in accordance with section 316, a clear statement of the appropriate level for the debt subject to limit under section 3101 of title 31, United States Code, as of the end of the second fiscal year of the biennium of the concurrent resolution on the budget;”.

(c) Bipartisan budget resolution.—

(1) DEFINITION.—Section 3 of the Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 622), as amended by section 201, is further amended by adding at the end the following:

“(13) The term ‘bipartisan budget resolution’ means a concurrent resolution on the budget for a biennium that—

“(A) meets the requirements under section 301; and

“(B) is ordered reported to the Senate by the Committee on Fiscal Control and the Budget of the Senate by an affirmative vote of not less than half of the Senators that are members of the majority party in the Senate and not less than half of the Senators that are members of the minority party in the Senate.”.

(2) CONTENTS.—Section 301(a) of the Congressional Budget Act of 1974 (2 U.S.C. 632(a)) is amended by inserting after paragraph (2), as added by subsection (b) of this section, the following:

“(3) for a bipartisan budget resolution, include—

“(A) in accordance with section 316, a clear statement of the appropriate level for the discretionary spending limit for each fiscal year of the biennium of the concurrent resolution on the budget;

“(B) the amount of health care spending by the Government;

“(C) the amount of tax expenditures;

“(D) the amount of discretionary appropriations (as defined in section 250 of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 900)); and

“(E) the amount of revenues;”.

(3) CONSIDERATION OF BIPARTISAN BUDGET RESOLUTIONS.—Section 305 of the Congressional Budget Act of 1974 (2 U.S.C. 636) is amended by adding at the end the following:

“(e) Procedures in the Senate for bipartisan budget resolutions.—

“(1) OTHER EXPEDITED PROCESS.—

“(A) IN GENERAL.—Subject to subparagraph (B), in the Senate, upon the agreement of the majority leader and the minority leader, additional procedures to expedite consideration of a bipartisan budget resolution shall apply to consideration of the bipartisan budget resolution. The majority leader shall submit a written statement for the Congressional Record reflecting any agreement described in this paragraph.

“(B) INCLUSION AND EXCLUSION.—An agreement described in this paragraph—

“(i) may include limiting the number of amendments upon which the Senate shall vote; and

“(ii) may not include the waiver of any points of order.

“(2) ADOPTION.—

“(A) IN GENERAL.—In the Senate, a bipartisan budget resolution shall only be agreed to—

“(i) if it complies with section 3(13)(A); and

“(ii) upon the affirmative vote of not less than—

“(I) three-fifths of the Members, duly chosen and sworn; and

“(II) 15 Members that are members of the minority party in the Senate.

“(B) NOT AGREED TO.—If a bipartisan budget resolution is not agreed to in accordance with subparagraph (A), the Senate shall be deemed to have agreed to a motion to recommit the bipartisan budget resolution to the Committee on Fiscal Control and the Budget.

“(3) CONFERENCE REPORTS AND AMENDMENTS BETWEEN THE HOUSES.—

“(A) IN GENERAL.—In the Senate, a conference report or an amendment between the Houses on a bipartisan budget resolution shall only be agreed to—

“(i) if it complies with section 3(13)(A); and

“(ii) upon the affirmative vote of not less than—

“(I) three-fifths of the Members, duly chosen and sworn; and

“(II) 15 Members that are members of the minority party in the Senate.

“(B) NOT AGREED TO.—If a conference report or an amendment between the Houses on a bipartisan budget resolution is not agreed to in accordance with subparagraph (A), a motion to reconsider the conference report or amendment between the Houses is in order in accordance with rule XIII of the Standing Rules of the Senate.”.

(4) RECONCILIATION UNDER BIPARTISAN BUDGET RESOLUTIONS.—Section 310(e)(2) of the Congressional Budget Act of 1974 (2 U.S.C. 641(e)(2)) is amended—

(A) by inserting “(A)” before “Debate”; and

(B) by adding at the end the following:

“(B) In the Senate, a reconciliation bill reported under subsection (b) pursuant to reconciliation instructions in a bipartisan budget resolution, a House amendment thereto, and a conference report thereon shall be agreed to only upon the affirmative vote of not less than—

“(i) a majority of the Members voting, a quorum being present; and

“(ii) 15 Members that are members of the minority party in the Senate.”.

(5) AUTOMATIC ADJUSTMENT OF DEBT LIMIT AND STATUTORY CAPS.—Title III of the Congressional Budget Act of 1974 (2 U.S.C. 631 et seq.) is amended by adding at the end the following:

(6) BIPARTISAN BUDGET AGREED TO.—

(A) DEFINITION.—In this paragraph, the term “bipartisan budget resolution” has the meaning given that term in paragraph (13) of section 3 of the Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 622), as added by this Act.

(B) EFFECT ON MOTION TO PROCEED TO APPROPRIATION BILLS.—If a bipartisan budget resolution is adopted by the Senate and House of Representatives, a motion to proceed to the consideration of an appropriation Act referred to in section 105 of title 1, United States Code, making appropriations for either fiscal year of the biennium of the bipartisan budget resolution (which shall not include a bill or joint resolution making supplemental appropriations for such a fiscal year) or a bill or joint resolution making continuing appropriations for such a fiscal year shall not be debatable.

(C) MINOR VIOLATIONS.—If a bipartisan budget resolution is adopted by the Senate and House of Representatives, with respect to any fiscal year covered by the bipartisan budget resolution, the Chairman of the Committee on Fiscal Control and the Budget may determine that a point of order does not lie under the Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 621 et seq.) for a violation for which the absolute value of the violation is less than $500,000.

(d) Other changes to content.—Section 301(a) of the Congressional Budget Act of 1974 (2 U.S.C. 632(a)), is amended—

(1) in paragraph (1), as so designated by subsection (b) of this section—

(A) in subparagraph (D), by inserting “for direct spending (as defined in section 250 of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 900)),” before “new budget authority”;

(B) in subparagraph (E), by striking “the public debt” and inserting “the debt held by the public and debt subject to limit under section 3101 of title 31, United States Code”;

(C) in subparagraph (F), by striking “and” at the end; and

(D) by inserting after subparagraph (G) the following:

“(H) the allocated amount of discretionary appropriations; and

“(I) the unallocated amount of discretionary appropriations;”; and

(2) by inserting after paragraph (3), as added by subsection (c) of this section, the following:

“(4) for any concurrent resolution on the budget, specify the amount of the gross domestic product of the United States assumed for purposes of each fiscal year covered by the concurrent resolution; and

“(5) for any concurrent resolution on the budget, specify a target for the ratio of the debt held by the public to the gross domestic product of the United States (rounded to the nearest one-tenth of 1 percent) for each fiscal year covered by the concurrent resolution.”.

(e) Technical and conforming amendment.—The table of contents in section 1(b) of the Congressional Budget and Impoundment Control Act of 1974 is amended—

(1) by striking the item relating to section 301 and inserting the following:

“Sec. 301. Biennial adoption of concurrent resolution on the budget.”; and

(2) by inserting after the item relating to section 315 the following:

“Sec. 316. Automatic adjustment of debt limit and statutory caps.”.

(a) Additional matters.—Section 301(b)(3) of the Congressional Budget Act of 1974 (2 U.S.C. 632(b)(3)) is amended by striking “for such fiscal year” and inserting “for either fiscal year in such biennium”.

(b) Views and estimates.—Section 301(d) of the Congressional Budget Act of 1974 (2 U.S.C. 632(d)) is amended—

(1) by striking “Within 6 weeks after the President submits a budget under section 1105(a) of title 31, United States Code,” and inserting the following:

“(1) IN GENERAL.—Not later than March 1 of each odd-numbered year (or, if applicable under section 300(b), May 1 of an odd-numbered year),”; and

(2) by adding at the end the following:

“(2) REVIEW OF UNAUTHORIZED APPROPRIATIONS.—Each Committee of the House of Representatives and the Senate shall include the views and estimates of the committee required under paragraph (1) a description of the plans of the committee to consider legislation relating to programs within the jurisdiction of the committee that appeared in the most recent report of the Congressional Budget Office on unauthorized appropriations submitted to Congress under section 202(e)(3).

“(3) OVERSIGHT OF GOVERNMENT PERFORMANCE.—

“(A) REVIEW.—Each committee of the House of Representatives and the Senate shall—

“(i) review programs and tax expenditures of which the committee has jurisdiction to identify waste, fraud, abuse, or duplication, and increase the use of performance data to inform committee work; and

“(ii) review the matters for congressional consideration identified in—

“(I) the applicable semiannual reports of the Inspectors General for which the committee has jurisdiction;

“(II) the list of unimplemented recommendations compiled by the Inspectors General for which the committee has jurisdiction;

“(III) the High Risk list published by the Government Accountability Office; and

“(IV) the annual report to reduce program duplication published by the Government Accountability Office as required under section 21 of the Joint Resolution entitled ‘Joint Resolution increasing the statutory limit on the public debt’, approved February 12, 2010 (31 U.S.C. 712 note).

“(B) INCLUSION IN VIEWS AND ESTIMATES.—Based on the oversight efforts and performance reviews of programs under subparagraph (A), each committee of the House of Representatives and the Senate shall include plans for improved governmental performance in the views and estimates of the committee required under paragraph (1) to the Committee on the Budget of the House of Representatives or the Committee on Fiscal Control and the Budget of the Senate, respectively.

“(4) REVENUE PROJECTION.—The Committee on Finance of the Senate and the Committee on Ways and Means of the House of Representatives shall each include in the views and estimates of the committee required under paragraph (1)—

“(A) a report providing revenue projections for each fiscal year in the next biennium and the 4 ensuing bienniums, which shall include a description of how such revenue projections would be impacted by any extension of an expiring or terminating tax provision anticipated by the committee or other policy initiatives of the committee;

“(B) a list of—

“(i) any tax provisions that are scheduled to expire or terminate during the period described in subparagraph (A); and

“(ii) any provisions described in clause (i) that the committee anticipates will be extended—

“(I) to apply with respect to the next biennium; or

“(II) to apply with respect to the period described in subparagraph (A); and

“(C) an estimate of—

“(i) the cost to extend the tax provisions listed in subparagraph (B)(i); and

“(ii) the cost to extend the tax provisions the committee anticipates will be extended, as listed under subparagraph (B)(ii).”.

(c) Hearings.—Section 301(e) of the Congressional Budget Act of 1974 (2 U.S.C. 632(e)) is amended—

(1) in paragraph (1)—

(A) by striking “fiscal year” and inserting “biennium”; and

(B) by inserting after the second sentence the following: “On or before April 1 of each odd-numbered year (or, if applicable under section 300(b), June 1 of an odd numbered year), the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate shall report to its House the concurrent resolution on the budget referred to in subsection (a) for the biennium beginning on October 1 of that year.”; and

(2) in paragraph (2)—

(A) by striking subparagraphs (A) and (B);

(B) by redesignating subparagraphs (C) through (F) as subparagraphs (A) through (D), respectively; and

(C) in subparagraph (C), as so redesignated, by striking “for the President's budget and”.

(d) Goals for reducing unemployment.—Section 301(f) of the Congressional Budget Act of 1974 (2 U.S.C. 632(f)) is amended by striking “fiscal year” each place it appears and inserting “biennium”.

(e) Economic assumptions.—Section 301(g)(1) of the Congressional Budget Act of 1974 (2 U.S.C. 632(g)(1)) is amended by striking “for a fiscal year” and inserting “for a biennium”.

Section 302 of the Congressional Budget Act of 1974 (2 U.S.C. 633) is amended—

(a) In general.—Section 303(a) of the Congressional Budget Act of 1974 (2 U.S.C. 634(a)) is amended—

(1) by striking “for a fiscal year” and inserting “for a biennium”; and

(2) by striking “the first fiscal year” and inserting “each fiscal year of the biennium”.

(b) Exceptions in the house.—Section 303(b) of the Congressional Budget Act of 1974 (2 U.S.C. 634(b)) is amended—

(1) in paragraph (1)(A), by striking “the budget year” and inserting “the biennium”; and

(2) in paragraph (2), by inserting “(or, if applicable under section 300(b), June 15)” after “May 15”.

(c) Application to the senate.—Section 303(c)(1) of the Congressional Budget Act of 1974 (2 U.S.C. 634(c)(1)) is amended by striking “fiscal year” and inserting “biennium”.

Section 304 of the Congressional Budget Act of 1974 (2 U.S.C. 635) is amended—

Section 305 of the Congressional Budget Act of 1974 (2 U.S.C. 636) is amended—

(a) In general.—Section 307 of the Congressional Budget Act of 1974 (2 U.S.C. 638) is amended—

(1) in the section heading, by striking “House committee action on all appropriation bills to be completed by June 10” and inserting “Deadline for House committee action on all appropriation bills”; and

(2) by inserting “(or, if applicable under section 300(b), June 30 of a year)” after “June 10 of each year”.

(b) Technical and conforming amendment.—The table of contents in section 1(b) of the Congressional Budget and Impoundment Control Act of 1974 is amended by striking the item relating to section 307 and inserting the following:

“Sec. 307. Deadline for House committee action on all appropriation bills.”.

Section 310 of the Congressional Budget Act of 1974 (2 U.S.C. 641) is amended—

(a) In the House.—Section 311(a)(1) of the Congressional Budget Act of 1974 (2 U.S.C. 642(a)(1)) is amended—

(1) by striking “for a fiscal year” and inserting “for a biennium”;

(2) by striking “the first fiscal year” each place it appears and inserting “either fiscal year of the biennium”; and

(3) by striking “that first fiscal year” and inserting “each fiscal year in the biennium”.

(b) In the Senate.—Section 311(a)(2) of the Congressional Budget Act of 1974 (2 U.S.C. 642(a)(2)) is amended—

(1) in subparagraph (A), by striking “for the first fiscal year” and inserting “for either fiscal year of the biennium”; and

(2) in subparagraph (B)—

(A) by striking “that first fiscal year” the first place it appears and inserting “either fiscal year in the biennium”; and

(B) by striking “that first fiscal year and the ensuing fiscal years” and inserting “all fiscal years”.

(c) Social security levels.—Section 311(a)(3) of the Congressional Budget Act of 1974 (2 U.S.C. 642(a)(3)) is amended by—

(1) striking “for the first fiscal year” and inserting “each fiscal year in the biennium”; and

(2) striking “that fiscal year and the ensuing fiscal years” and inserting “all fiscal years”.

Section 312(c) of the Congressional Budget Act of 1974 (2 U.S.C. 643(c)) is amended—

(a) In general.—

(1) CHANGE OF NAME.—The Committee on the Budget of the Senate is renamed as the Committee on Fiscal Control and the Budget of the Senate.

(2) COMMITTEE STATUS.—The Committee on Fiscal Control and the Budget shall be treated as the Committee on the Budget listed under paragraph 3 of rule XXV of the Standing Rules of the Senate for purposes of the Standing Rules of the Senate.

(b) Membership.—

(1) IN GENERAL.—In the Senate, the Chairman and Ranking Member of the Committee on Appropriations and the Chairman and Ranking Member of the Committee on Finance (if not already a member of the Committee on Fiscal Control and the Budget of the Senate) shall be ex officio members of the Committee on Fiscal Control and the Budget, but shall have no vote in the Committee on Fiscal Control and the Budget and shall not be counted for purposes of determining a quorum.

(2) EXEMPTION.—Service of a Senator as an ex officio member of the Committee on Fiscal Control and the Budget of the Senate under paragraph (1) shall not be taken into account for purposes of paragraph 4 of rule XXV of the Standing Rules of the Senate.

(c) Conforming amendments.—Section 101 of S. Res. 445 (108th Congress) is amended—

(1) in subsection (d)—

(A) in the subsection heading, by striking “Budget” and inserting “Fiscal Control and the Budget”;

(B) in the matter preceding paragraph (1), by striking “the Committee on the Budget” and inserting “the Committee on Fiscal Control and the Budget”; and

(C) in paragraph (1), by striking “the Budget Committee” and inserting “the Committee on Fiscal Control and the Budget”; and

(2) in subsection (e), by striking “The Committee on the Budget” and inserting “The Committee on Fiscal Control and the Budget”.

(d) Rulemaking.—This section is enacted—

(1) as an exercise of the rulemaking power of the Senate; and

(2) with full recognition of the constitutional right of the Senate to change such rules at any time, in the same manner, and to the same extent as in the case of any other rule of the Senate.

(a) Congressional Budget and Impoundment Control Act of 1974.—The Congressional Budget and Impoundment Control Act of 1974 is amended—

(1) in section 201 (2 U.S.C. 601)—

(A) in subsection (a)(2), by striking “the Committees on the Budget of the House and Senate” and inserting “the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate”; and

(B) in subsection (f), by striking “The Budget Committees of the Senate and House” and inserting “The Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate”;

(2) in section 202 (2 U.S.C. 602)—

(A) in subsection (a)—

(i) in the subsection heading, by striking “Budget Committees” and inserting “the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate”; and

(ii) by striking “the Committees on the Budget of both Houses” and inserting “the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate”;

(B) in subsection (d), by striking “the Committee on the Budget of either House” and inserting “the Committee on the Budget of the House of Representatives or the Committee on Fiscal Control and the Budget of the Senate”; and

(C) in subsection (e)—

(i) in the subsection heading, by striking “Budget Committees” and inserting “the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate”; and

(ii) by striking “the Committees on the Budget of the House of Representatives and the Senate” each place it appears and inserting “the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate”;

(3) in section 301 (2 U.S.C. 632)—

(A) in subsection (d)(1), as amended by section 202 of this Act—

(i) in the first sentence—

(I) by striking “the Committee on the Budget” the first place it appears and inserting “the Committee on the Budget of the House of Representatives, with respect to a committee of the House of Representatives, or the Committee on Fiscal Control and the Budget of the Senate, with respect to a committee of the Senate”; and

(II) by striking “the Committee on the Budget of the Senate” and inserting “the Committee on Fiscal Control and the Budget of the Senate”;

(ii) in the second sentence, by striking “the Committees on the Budget of both Houses” and inserting “the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate”;

(iii) in the third sentence—

(I) by striking “the Committee on the Budget of its House” and inserting “the Committee on the Budget of the House of Representatives or the Committee on Fiscal Control and the Budget of the Senate, respectively”; and

(II) by striking “the Committees on the Budget of both Houses” and inserting “the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate”; and

(iv) in the fourth sentence, by striking “the Committee on the Budget of the applicable House” and inserting “the Committee on the Budget of the House of Representatives or the Committee on Fiscal Control and the Budget of the Senate, as applicable”;

(B) in subsection (e)(1)—

(i) in the first sentence, by striking “the Committee on the Budget of each House shall” and inserting “the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate shall each”; and

(ii) in the second sentence—

(I) by striking “the Committee on the Budget of each House” and inserting “the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate”;

(II) by striking “its” each place it appears and inserting “such committee’s”; and

(III) by striking “it” and inserting “such committee”; and

(C) in subsection (h), by striking “its House” and inserting “the House of Representatives”;

(4) in section 305(b) (2 U.S.C. 636(b)), by striking “Committee on the Budget” each place it appears and inserting “Committee on Fiscal Control and the Budget”;

(5) in section 306 (2 U.S.C. 637), in the section heading, by striking “budget committees” and inserting “the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate”;

(6) in section 308(a)(3) (2 U.S.C. 639(a)(3)), by striking “the Committees on the Budget of the House and Senate” and inserting “the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate”;

(7) in section 310 (2 U.S.C. 641)—

(A) in subsection (b)(2), by striking “the Committee on the Budget of its House” and inserting “the Committee on the Budget of the House of Representatives or the Committee on Fiscal Control and the Budget of the Senate, respectively”;

(B) in subsection (c)(2), by striking “Committee on the Budget” each place it appears and inserting “Committee on Fiscal Control and the Budget”; and

(C) in subsection (d)—

(i) in paragraph (4), by striking “or of the Senate” and inserting “or the Committee on Fiscal Control and the Budget of the Senate”; and

(ii) in paragraph (5), by striking “its Committee on the Budget” and inserting “the Committee on the Budget of the House of Representatives”;

(8) in section 312(a) (2 U.S.C. 643(a))—

(A) in the subsection heading, by striking “Budget”; and

(B) by striking “or the Senate” and inserting “or the Committee on Fiscal Control and the Budget of the Senate”;

(9) in section 313 (2 U.S.C. 644)—

(A) in subsection (b)(2), by striking “Committee on the Budget” and inserting “Committee on Fiscal Control and the Budget”; and

(B) in subsection (c), by striking “Committee on the Budget” and inserting “Committee on Fiscal Control and the Budget”;

(10) in section 314 (2 U.S.C. 645)—

(A) in subsection (a), by striking “or the Senate” and inserting “or the Committee on Fiscal Control and the Budget of the Senate”; and

(B) in subsection (g)(1)(A), by striking “or the Senate” and inserting “or the Committee on Fiscal Control and the Budget of the Senate”;

(11) in section 425(e) (2 U.S.C. 658d(e)), by striking “Committee on the Budget” and inserting “Committee on Fiscal Control and the Budget”;

(12) in section 703 (2 U.S.C. 623)—

(A) in subsection (a), by striking “The Committees on the Budget of the House of Representatives and the Senate” and inserting “The Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate”; and

(B) in subsection (b), by striking “The Committee on the Budget of each House shall, from time to time, report to its House” and inserting “The Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate shall, from time to time, report to the House of Representatives and the Senate, respectively,”;

(13) in section 1024(d) (2 U.S.C. 691c(d)), by striking “the Committees on the Budget of the House of Representatives and the Senate” and inserting “the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate”;

(14) in section 1025(a) (2 U.S.C. 691d(a)), by striking “Committee on the Budget” the first place it appears and inserting “Committee on Fiscal Control and the Budget”; and

(15) in the table of contents in section 1(b), by striking the item relating to section 306 and inserting the following:

“Sec. 306. Legislation dealing with congressional budget must be handled by the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate.”.

(b) Balanced Budget and Emergency Deficit Control Act of 1985.—The Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 900 et seq.) is amended—

(1) in section 250(c)(4)(F) (2 U.S.C. 900(c)(4)(F)), by striking “the Committees on Appropriations and the Budget of the House of Representatives and the Senate” and inserting “the Committee on Appropriations and the Committee on the Budget of the House of Representatives and the Committee on Appropriations and the Committee on Fiscal Control and the Budget of the Senate”;

(2) in section 251 (2 U.S.C. 901)—

(A) in subsection (a)(7), by striking “the Committees on the Budget of the House of Representatives and the Senate” each place it appears and inserting “the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate”; and

(B) in subsection (b)—

(i) in paragraph (1), by striking “the Committees on Appropriations and the Budget of the House of Representatives and the Senate” and inserting “the Committee on Appropriations and the Committee on the Budget of the House of Representatives and the Committee on Appropriations and the Committee on Fiscal Control and the Budget of the Senate”; and

(ii) in paragraph (2)(D)(ii), by striking “the Committees on Appropriations and Budget in each House” and inserting “the Committee on Appropriations and the Committee on the Budget of the House of Representatives and the Committee on Appropriations and the Committee on Fiscal Control and the Budget of the Senate”;

(3) in section 251A(d) (2 U.S.C. 901a(d)), by striking “the Committees on the Budget of the House of Representatives and the Senate” each place it appears and inserting “the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate”;

(4) in section 254(h) (2 U.S.C. 904(h)), in the matter preceding paragraph (1), by striking “or the Senate” and inserting “or the Committee on Fiscal Control and the Budget of the Senate”;

(5) in section 257(b)(2)(A)(i) (2 U.S.C. 907(b)(2)(A)(i)), in the second sentence—

(A) by striking “the Committees on Budget” and inserting “the Committee on the Budget of the House of Representatives, the Committee on Fiscal Control and the Budget of the Senate,”; and

(B) by striking “and the Budget Committees” and inserting “the Committee on the Budget of the House of Representatives, and the Committee on Fiscal Control and the Budget of the Senate”;

(6) in section 258(a)(3) (2 U.S.C. 907a(a)(3)), in the first sentence, by striking “the Committee on the Budget” and inserting “the Committee on Fiscal Control and the Budget”;

(7) in section 258B(h)(4) (2 U.S.C. 907c(h)(4)), by striking “the Committee on the Budget” and inserting “the Committee on Fiscal Control and the Budget”; and

(8) in section 258C(a) (2 U.S.C. 907d(a))—

(A) by striking “the Committee on the Budget” each place it appears and inserting “the Committee on Fiscal Control and the Budget”;

(B) in paragraph (3), by striking “the Budget Committee” and inserting “the Committee on Fiscal Control and the Budget of the Senate”; and

(C) in paragraph (4)—

(i) in the paragraph heading, by striking “Budget committee action” and inserting “Action by the Committee on Fiscal Control and the Budget”; and

(ii) by striking “the Budget Committee” each place it appears and inserting “the Committee on Fiscal Control and the Budget of the Senate”.

(c) Statutory Pay-As-You-Go Act of 2010.—The Statutory Pay-As-You-Go Act of 2010 (2 U.S.C. 931 et seq.) is amended—

(1) in section 4(a) (2 U.S.C. 933(a))—

(A) in paragraph (1)—

(i) in subparagraph (B), by striking “the Senate Budget Committee” each place it appears and inserting “the Committee on Fiscal Control and the Budget of the Senate”; and

(ii) in subparagraph (C), by striking “the Chairmen of the House and Senate Budget Committees” each place it appears and inserting “the Chairman of the Committee on the Budget of the House of Representatives and the Chairman of the Committee on Fiscal Control and the Budget of the Senate”;

(B) in paragraph (2)—

(i) in subparagraph (A)—

(I) in clause (i), by striking “by one House, the Chairman of the Budget Committee of that House” and inserting “by the House of Representatives or the Senate, the Chairman of the Committee on the Budget of the House of Representatives or the Chairman of the Committee on Fiscal Control and the Budget of the Senate, respectively,”; and

(II) in clause (ii), by striking “the Chairman of the Budget Committee of that House prior to passage” and inserting “the Chairman of the Committee on the Budget of the House of Representatives or the Chairman of the Committee on Fiscal Control and the Budget of the Senate prior to passage by the House of Representatives or the Senate, respectively,”; and

(ii) in subparagraph (B)(i), by striking “the Chairmen of the Budget Committees of the House and Senate” and inserting “the Chairman of the Committee on the Budget of the House of Representatives and the Chairman of the Committee on Fiscal Control and the Budget of the Senate”;

(C) in paragraph (3), by striking “Senate Budget Committee” and inserting “Committee on Fiscal Control and the Budget of the Senate”; and

(D) in paragraph (4)—

(i) in the paragraph heading, by striking “of the budget committees”; and

(ii) by striking “the Senate or House Committees on the Budget” and inserting “the Committee on the Budget of the House of Representatives or the Committee on Fiscal Control and the Budget of the Senate”; and

(2) in section 12 (2 U.S.C. 938)—

(A) in the first sentence, by striking “the chairmen of the Committees on the Budget of the House and Senate” and inserting “the Chairman of the Committee on the Budget of the House of Representatives or the Chairman of the Committee on Fiscal Control and the Budget of the Senate”; and

(B) in the second sentence, by striking “the Chairmen of the House and Senate Budget Committees” and inserting “the Chairman of the Committee on the Budget of the House of Representatives and the Chairman of the Committee on Fiscal Control and the Budget of the Senate”.

(d) Other laws.—

(1) Section 3(1)(A) of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5202(1)(A)) is amended by striking “the Committee on the Budget” and inserting “the Committee on Fiscal Control and the Budget”.

(2) Section 3002(1)(A) of the Small Business Jobs Act of 2010 (12 U.S.C. 5701(1)(A)) is amended by striking “the Committee on the Budget” and inserting “the Committee on Fiscal Control and the Budget”.

(3) Section 302(d) of the Full Employment and Balanced Growth Act of 1978 (15 U.S.C. 3132(d)) is amended in the first sentence by striking “the Committees on the Budget of the Senate and the House of Representatives” and inserting “the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate”.

(4) Section 9503(d)(7) of the Internal Revenue Code of 1986 (relating to the Highway Trust Fund) is amended by striking “the Committees on the Budget of both Houses” and inserting “the Committee on the Budget of the House of Representatives, the Committee on Fiscal Control and the Budget of the Senate”.

(5) Section 1104(c) of title 31, United States Code, is amended in the second sentence by striking “the Committees on Appropriations and on the Budget of both Houses of Congress” and inserting “the Committee on Appropriations and the Committee on the Budget of the House of Representatives and the Committee on Appropriations and the Committee on Fiscal Control and the Budget of the Senate”.

(6) Section 1105(a)(35)(B) of title 31, United States Code, is amended by striking “the Committees on Appropriations” and all that follows and inserting “the Committee on Appropriations, the Committee on the Budget, and the Committee on Homeland Security of the House of Representatives and the Committee on Appropriations, the Committee on Fiscal Control and the Budget, and the Committee on Homeland Security and Governmental Affairs of the Senate.”.

(7) Section 1109(b) of title 31, United States Code, is amended by striking “the Committees on the Budget of both Houses” and inserting “the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate”.

(8) Section 1112(c)(3) of title 31, United States Code, is amended by striking “and on the Budget of both Houses of Congress” and inserting “of both Houses of Congress, the Committee on the Budget of the House of Representatives, the Committee on Fiscal Control and the Budget of the Senate”.

(9) Section 1120(a)(3)(B) of title 31, United States Code, is amended by striking “the Committees on the Budget of the Senate and the House of Representatives” and inserting “the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate”.

(10) Section 3524(b) of title 31, United States Code, is amended by striking “the Committees on the Budget and Appropriations of both Houses of Congress, the Committee on Governmental Affairs, and to the Committee on Government Operations, and to” and inserting “the Committee on Appropriations, the Committee on the Budget, and the Committee on Oversight and Government Reform of the House of Representatives, the Committee on Appropriations, the Committee on Fiscal Control and the Budget, and the Committee on Homeland Security and Governmental Affairs of the Senate, and”.

(11) Section 6203(a)(2)(C) of title 31, United States Code, is amended by striking “the Committees on Governmental Affairs, the Budget, and Appropriations” and inserting “the Committee on Appropriations, the Committee on Fiscal Control and the Budget, and the Committee on Homeland Security and Governmental Affairs”.

(12) Section 8163(c)(1) of title 38, United States Code, is amended in the first sentence by striking “and the Committees on the Budget of the House of Representatives and the Senate” and inserting “the Committee on the Budget of the House of Representatives, and the Committee on Fiscal Control and the Budget of the Senate”.

(13) Section 8168 of title 38, United States Code, is amended by striking “and the Committees on the Budget of the House of Representatives and the Senate” each place it appears and inserting “the Committee on the Budget of the House of Representatives, and the Committee on Fiscal Control and the Budget of the Senate”.

(14) Section 104(a)(2) of division O of the Consolidated Appropriations Act, 2018 (43 U.S.C. 1748a–2(a)(2)) is amended by striking “the Budget” the second place it appears and inserting “Fiscal Control and the Budget”.

Any reference in any law, regulation, map, document, record, or other paper of the United States to the Committee on the Budget of the Senate shall be deemed a reference to the Committee on Fiscal Control and the Budget of the Senate.

(a) In general.—Title III of the Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 631 et seq.), as amended by section 202 of this Act, is amended by adding at the end the following:

(b) Technical and conforming amendment.—The table of contents in section 1(b) of the Congressional Budget and Impoundment Control Act of 1974 is amended by inserting after the item relating to section 316, as added by section 202 of this Act, the following:

“Sec. 317. Special reconciliation instructions.”.

Section 308(b) of the Congressional Budget Act of 1974 (2 U.S.C. 639(b)) is amended to read as follows:

Section 306(a) of the Congressional Budget Act of 1974 (2 U.S.C. 637(a)) is amended to read as follows:

Section 904 of the Congressional Budget Act of 1974 (2 U.S.C. 621 note) is amended by adding at the end the following:

The amendments made by this title shall take effect on the date of enactment of this Act.

(a) In general.—Section 202(e) of the Congressional Budget Act of 1974 (2 U.S.C. 602(e)) is amended—

(1) by striking paragraph (2) and inserting the following:

“(2) The Director shall from time to time, as may be necessary or appropriate to provide the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate with information, data, and analyses for the performance of their duties and functions, submit to such committees further reports, including reports—

“(A) revising the report required under paragraph (1);

“(B) analyzing the accuracy of the projections of the Office of economic factors, total outlays, revenues, surpluses or deficits, and debt;

“(C) analyzing the accuracy of estimates, comparisons, or descriptions, or components thereof, that the Office prepared for legislation that has been enacted; and

“(D) updating economic projections, including projections of the ratio of the debt held by the public to the gross domestic product of the United States.”; and

(2) by adding at the end the following:

“(4) On or before December 20 of each year, the Director shall submit to the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate a report on—

“(A) planned and recent transparency efforts, including proposals on making supporting documents covering methods and assumptions used in analyses and cost estimates publicly available; and

“(B) the feasibility of placing interactive models online and releasing source code for computer programs used in its analysis.

“(5) On or before January 15 of each year, the Director shall submit to the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate 1 or more reports analyzing the accuracy of the projections of the Office of total outlays and revenues for the previous fiscal year.

“(6) (A) The Director shall, to the extent practicable, make public supplemental information for estimates provided by the Office—

“(i) in the case of major legislation described in subparagraph (B)(i)(I), not later than 1 year after the date of enactment of that legislation; and

“(ii) in the case of major legislation described in subparagraph (B)(i)(II), at a date prescribed by the Chairman of the Committee on Fiscal Control and the Budget of the Senate or the Committee on the Budget of the House of Representatives.

“(B) In this paragraph:

“(i) The term ‘major legislation’ means a bill, joint resolution, conference report, amendment, amendment between the Houses, or treaty considered in the Senate for which an estimate was prepared pursuant to section 402(a)—

“(I) that—

“(aa) was enacted; and

“(bb) causes a gross budgetary effect (before incorporating macroeconomic effects and not including timing shifts) in a fiscal year in the period of years of the most recently agreed to concurrent resolution on the budget equal to or greater than—

“(AA) 0.25 percent of the current projected gross domestic product of the United States for that fiscal year; or

“(BB) for a treaty, equal to or greater than $15,000,000,000 for that fiscal year; or

“(II) designated as such by the Chairman of the Committee on Fiscal Control and the Budget of the Senate or the Chairman of the Committee on the Budget of the House of Representatives.

“(ii) The term ‘supplemental information’—

“(I) means the principal information used in estimating the costs and other fiscal or economic effects of major legislation; and

“(II) includes key fiscal or policy models, assumptions, data preparation routines, and other similar information.”.

(b) Applicability.—This amendments made by this section shall apply to estimates made on or after the date of enactment of this Act.

(a) In general.—Section 402 of the Congressional Budget Act of 1974 (2 U.S.C. 653) is amended—

(1) in the matter preceding paragraph (1)—

(A) by inserting “(a)” before “The Director”; and

(B) by striking “except the Committee on Appropriations of each House” and inserting “except that, for the Committee on Appropriations of each House, the Director shall prepare a report only with respect to a supplemental appropriation bill (which shall include an estimate of the interest effects of the bill)”;

(2) in paragraph (1)—

(A) by striking “4” and inserting “9”; and

(B) by inserting before the semicolon at the end the following: “, which shall include, and appear as supplemental information in the estimate, year-by-year estimates of the cost of servicing the debt produced as a result of carrying out such bill or resolution”;

(3) in the undesignated matter following subsection (a)(3), as so designated, by inserting “(b)” before “The estimates”; and

(4) by adding at the end the following:

“(c) The Director of the Congressional Budget Office shall, to the extent practicable, prepare for each bill or resolution of a public character reported by the Committee on Appropriations of each House and submit to such committee—

“(1) an estimate of the costs that would be incurred in carrying out such bill or resolution in the fiscal year in which the bill or resolution is to become effective;

“(2) an estimate of the costs for any advance appropriations in the bill or resolution for the fiscal year in which the budget authority for those appropriations first becomes effective; and

“(3) a year-by-year estimate for any provision of the bill or resolution that would have been estimated as affecting direct spending or receipts under section 252 of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 902) (as in effect prior to September 30, 2002) if the provision was included in legislation other than an appropriation Act.”.

(b) Applicability.—This amendments made by this section shall apply to estimates made on or after the date of enactment of this Act.

(a) In general.—Section 202(e) of the Congressional Budget Act of 1974 (2 U.S.C. 602(e)), as amended by section 601 of this Act, is amended by adding at the end the following:

“(7) (A) After November 15 of each year, the Director shall submit to the Committee on Fiscal Control and the Budget of the Senate and the Committee on the Budget of the House of Representatives a report that includes—

“(i) a list of all accounts in each functional category in the portfolio for the respective fiscal year described in subparagraph (B);

“(ii) levels of budget authority for the previous 5 fiscal years for each account in each functional category, sorted by discretionary and mandatory amounts;

“(iii) a list of major trust funds in each portfolio and an accounting of the most recently available projection of spending and nongovernmental receipts dedicated to each trust fund;

“(iv) the projected date of exhaustion under current law for any entitlement authority derived from a trust fund;

“(v) options to reduce the deficit focused on the major functional categories in the portfolio; and

“(vi) an analysis of various alternative scenarios affecting major accounts in each such portfolio and the potential budgetary and economic ramifications.

“(B) The portfolio described in this subparagraph shall include the following major functional categories:

“(i) For the first fiscal year beginning after the date of enactment of this paragraph—

“(I) National Defense (050);

“(II) International Affairs (150);

“(III) Veterans Benefits and Services (700); and

“(IV) Administration of Justice (750).

“(ii) For the second fiscal year beginning after the date of enactment of this paragraph—

“(I) Health (550); and

“(II) Medicare (570).

“(iii) For the third fiscal year beginning after the date of enactment of this paragraph—

“(I) General Science, Space, and Technology (250);

“(II) Transportation (400);

“(III) Community and Regional Development (450); and

“(IV) Education, Training, Employment, and Social Services (500).

“(iv) For the fourth fiscal year beginning after the date of enactment of this paragraph—

“(I) Energy (270);

“(II) Natural Resources and Environment (300);

“(III) Agriculture (350); and

“(IV) General Government (800).

“(v) For the fifth fiscal year beginning after the date of enactment of this paragraph—

“(I) Commerce and Housing Credit (370);

“(II) Income Security (600); and

“(III) Social Security (650).

“(C) For the sixth fiscal year and subsequent fiscal years beginning after the date of enactment of this paragraph, each portfolio shall include the same functional categories and submitted in the same order as the portfolios described in subparagraph (B).”.

(b) GAO report.—On or before November 15 of each year, the Comptroller General shall submit to the Committee on Fiscal Control and the Budget of the Senate and the Committee on the Budget of the House of Representatives a report with respect to the portfolios described in paragraph (7)(B) of 202(e) of the Congressional Budget Act of 1974 (2 U.S.C. 602(e)), as added by subsection (a) of this section, for the major functional categories in each portfolio, to be submitted in the order described in that paragraph, that includes—

(1) a list of duplicative, overlapping, and fragmented accounts in each portfolio, taking into consideration the goals of each account;

(2) a list of any high-risk programs in the portfolio;

(3) a list of programs with a primary source of funding that has moved from direct spending to discretionary spending or program funding that has moved from discretionary spending to direct spending;

(4) an analysis of various alternative scenarios affecting major accounts in each such portfolio and the potential budgetary and economic ramifications; and

(5) legislative and funding history for the 10 largest accounts with greater than $1,000,000,000 in budget authority with the greatest percentage of budget authority fluctuations in each portfolio over the most recent 5-year period.

Section 1105(a) of title 31, United States Code, is amended by adding at the end the following:

Section 305(b) of the Congressional Budget Act of 1974 (2 U.S.C. 636(b)) is amended—

Except as provided in sections 504, 601(b), and 602(b), this Act and the amendments made by this Act shall—