(a) Short title.—This Act may be cited as the “Bipartisan Budget and Appropriations Reform Act of 2018”.

(b) Table of contents.—The table of contents for this Act is as follows:

Sec. 1. Short title; table of contents.

Paragraph (2) of section 2 of the Congressional Budget and Impoundment Control Act of 1974 is amended to read as follows:

“(2) to facilitate the determination biennially of the appropriate level of Federal revenues and expenditures by the Congress;”.

Section 3 of the Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 622) is amended—

(1) in paragraph (4), by striking “for a fiscal year” each place it appears and inserting “for a biennium”; and

(2) by adding at the end the following new paragraphs:

“(12) The term ‘direct spending’ has the meaning given to such term in section 250(c)(8) of the Balanced Budget and Emergency Deficit Control Act of 1985.

“(13) The term ‘biennium’ means any period of 2 consecutive fiscal years beginning with an even-numbered fiscal year.

“(14) The term ‘budget year’ has the meaning given that term in section 250(c)(12) of the Balanced Budget and Emergency Control Act of 1985.”.

Section 300 of the Congressional Budget Act of 1974 (2 U.S.C. 631) is amended to read as follows:

(a) Contents of resolution.—

(1) IN GENERAL.—Section 301(a) of the Congressional Budget Act of 1974 (2 U.S.C. 632(a)) is amended—

(A) by striking “On or before April 15” and all that follows through “the following:” and inserting the following: “On or before May 1 of each odd-numbered calendar year, the Congress shall complete action on a concurrent resolution on the budget for the biennium beginning on October 1 of that calendar year. The concurrent resolution shall set forth appropriate levels for each fiscal year in the biennium and for at least each fiscal year in the next 2 bienniums for the following—”;

(B) in paragraph (6)—

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

(ii) by striking “and” at the end;

(C) in paragraph (7)—

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

(ii) by striking the period at the end and inserting “; and”;

(D) by adding after paragraph (7) the following:

“(8) subtotals of new budget authority and outlays for nondefense discretionary spending; defense discretionary spending; direct spending; and net interest.”; and

(E) by adding at the end of the matter following paragraph (8) (as added by subparagraph (D)) the following: “The concurrent resolution on the budget for a biennium shall include procedures for adjusting spending and revenue levels, committee allocations, and other amounts in the resolution during the second session of a Congress to reflect an updated baseline that will be used for scoring purposes.”.

(b) Additional Matters in concurrent resolution.—Section 301(b) of the Congressional Budget Act of 1974 (2 U.S.C. 632(b)) is amended—

(1) in paragraph (3), by striking “for such fiscal year” and inserting “for either fiscal year in such biennium”;

(2) in paragraph (8), by striking “and” at the end;

(3) in paragraph (9), by striking the period at the end and inserting “; and”; and

(4) by adding at the end the following:

“(10) include total combined outlays and revenues for tax expenditures.”.

(c) Hearings and report.—Section 301(e)(1) of the Congressional Budget Act of 1974 (2 U.S.C. 632(e)) is amended by striking “fiscal year” and inserting “biennium”.

(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”.

(f) 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 Adoption of” and inserting “Adoption of Biennial”.

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

(1) in subsection (a)(1)—

(A) by striking “for that period of fiscal years” and inserting “for all fiscal years covered by the resolution”; and

(B) by striking “only for the fiscal year of that resolution” and inserting “only for each fiscal year of the biennium”;

(2) in subsection (c)—

(A) by striking “subsection (a)” and inserting “subsection (a)(1)”;

(B) by striking “for a fiscal year” and inserting “for a budget year”; and

(C) by striking “for that fiscal year” and inserting “for that budget year”;

(3) in subsection (f)(1)—

(A) by striking “for a fiscal year”; and

(B) by striking “the first fiscal year” and inserting “either fiscal year of the biennium of that resolution”; and

(4) in subsection (f)(2)(A), by—

(A) striking “the first fiscal year” and inserting “either fiscal year of the biennium of that resolution”; and

(B) striking “the total of fiscal years” and inserting “the total of all fiscal years covered by the resolution”.

Section 304 of the Congressional Budget Act of 1974 (2 U.S.C. 635) is amended to read as follows:

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

(1) in subsection (a)—

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

(B) by striking “the first fiscal year covered by that resolution” and inserting “either fiscal year of that biennium”;

(2) in subsection (b)(1)(B), by striking “the fiscal year” and inserting “the biennium”; and

(3) in subsection (c)—

(A) in paragraph (1)—

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

(ii) by striking “for that year” each place it appears and inserting “for each year of that biennium”; and

(B) in paragraph (2), by striking “after the year the allocation referred to in that paragraph is made” and inserting “after the years the allocations referred to in that paragraph are made”.

(b) Section 305.—Subsections (a)(3) and (b)(3) of section 305 of the Congressional Budget Act of 1974 (2 U.S.C. 636) are amended by striking “for a fiscal year”.

(c) Section 311 point of order.—

(1) IN THE HOUSE OF REPRESENTATIVES.—Section 311(a)(1) of the Congressional Budget Act of 1974 (2 U.S.C. 642(a)) is amended—

(A) by striking “for a fiscal year”;

(B) by striking “the first fiscal year” each place it appears and inserting “either of the first two fiscal years covered by such resolution”; and

(C) by striking “that first fiscal year” and inserting “either of the first two fiscal years”.

(2) IN THE SENATE.—Section 311(a)(2) of the Congressional Budget Act of 1974 (2 U.S.C. 642(a)(2)) is amended—

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

(B) in subparagraph (B)—

(i) by striking “that first fiscal year” the first place it appears and inserting “either of the first two fiscal years”; and

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

(3) SOCIAL SECURITY LEVELS.—Section 311(a)(3) of the Congressional Budget Act of 1974 (2 U.S.C. 642(a)(2)) is amended by—

(A) striking “for the first fiscal year” and inserting “for either of the first two fiscal years”; and

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

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

(1) in the matter before paragraph (1), by striking “A concurrent” and all that follows through “shall” and inserting “A concurrent resolution on the budget for a biennium shall, for each fiscal year of the biennium”;

(2) in paragraph (1)(A), by striking “for such fiscal year” and inserting “for each fiscal year of the biennium”;

(3) in paragraph (1)(C), by striking “such fiscal year” and inserting “each fiscal year of the biennium”; and

(4) in paragraph (1)(D), by striking “such fiscal year” and inserting “each fiscal year of the biennium”.

(a) Clause 4(a)(4) of rule X of the Rules of the House of Representatives is amended by striking “any allocations” and inserting “its allocations for the budget year” and by striking “fiscal year” and inserting “biennium”.

(b) Clause 4(b)(2) of rule X of the Rules of the House of Representatives is amended by striking “for each fiscal year”.

(c) Clause 4(b) of rule X is amended by striking “and” at the end of subparagraph (5), by striking the period and inserting “; and” at the end of subparagraph (6), and by adding at the end the following new subparagraph:

“(7) use the second session of each Congress to study issues with long-term budgetary and economic implications.”.

(d) Clause 4(f) of rule X is amended—

(1) by striking “fiscal year” the first place it appears and inserting “biennium”;

(2) by striking “that fiscal year” and inserting “each fiscal year in such ensuing biennium”; and

(3) in subparagraph (1) by striking “six weeks after the submission of the budget by the President” and inserting “March 1”.

(e) Clause 3(d)(1)(A) of rule XIII is amended by striking “five” both places it appears and inserting “six”.

(a) Clause 5(a)(2) of rule X of the Rules of the House of Representatives is amended—

(1) by striking subdivisions (B) and (C); and

(2) in subdivision (A), by striking “(A)” and by redesignating items (i), (ii), and (iii) as subdivisions (A), (B), and (C), respectively.

(b) The amendment made by subsection (a) shall take effect immediately before noon, January 3, 2019.

Sections 109 and 110 are enacted by the Congress—

(1) as an exercise of the rulemaking power of the House of Representatives, and as such they shall be considered as part of the rules of the House and such rules shall supersede other rules only to the extent that they are inconsistent therewith; and

(2) with full recognition of the constitutional right of the House 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 House.

This title and the amendments made by this title shall take effect immediately before noon January 3, 2019.

Section 301(d) of the Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 632(d)) is amended to read as follows:

“(d) Views and estimates of other committees.—

“(1) IN GENERAL.—Not later than March 1 of the first session of a Congress, or upon the request of the Committee on the Budget of the House of Representatives or the Senate, each committee of the House of Representatives and the Senate having legislative jurisdiction shall submit to its respective Committee on the Budget its views and estimates (as determined by the committee making such submission) with respect to the following:

“(A) Any legislation to be considered during that Congress that is a priority for the committee.

“(B) Any legislation within the jurisdiction of the committee that would establish, amend, or reauthorize any Federal program and likely have a significant budgetary impact.

“(2) ADDITIONAL MATTERS.—Any committee of the House of Representatives or the Senate and any joint committee of the Congress may submit to the appropriate Committees on the Budget its views and estimates with respect to all matters set forth in subsections (a) and (b) which relate to matters within its jurisdiction.

“(3) JOINT ECONOMIC COMMITTEE.—The Joint Economic Committee shall submit to the Committees on the Budget of both Houses its recommendations as to the fiscal policy appropriate to the goals of the Employment Act of 1946.”.

Section 1106 of title 31, United States Code, is amended by adding at the end the following:

“(d) On or before December 1 of each calendar year, the President shall submit to Congress an administrative budget for the fiscal year beginning in the ensuing calendar year, which shall include up-to-date estimates for current year and prior year data and credit reestimates for the current year (as included in the Federal credit supplement of such budget).”.

(a) In general.—Not later than 45 days (excluding Saturdays, Sundays, and holidays) after the date on which the Secretary of the Treasury submits to Congress the audited financial statement required under paragraph (1) of section 331(e) of title 31, United States Code, on a date agreed upon by the chairs of the Committees on the Budget of the House of Representatives and the Senate and the Comptroller General of the United States, the chairs shall conduct a hearing to receive a presentation from the Comptroller General reviewing the findings of the audit required under paragraph (2) of such section and providing, with respect to the information included by the Secretary in the report accompanying such audited financial statement, an analysis of the financial position and condition of the Federal Government, including financial measures (such as the net operating cost, income, budget deficits, or budget surpluses) and sustainability measures (such as the long-term fiscal projection or social insurance projection) described in such report.

(b) Effective date.—The requirement under subsection (a) shall apply with respect to any audited financial statement submitted on or after the date of the enactment of this Act.