Summary: H.R.7206 — 110th Congress (2007-2008)All Information (Except Text)

There is one summary for H.R.7206. Bill summaries are authored by CRS.

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Introduced in House (09/28/2008)

Spending Reform Act of 2008 - Amends the Congressional Budget Act of 1974 to require the concurrent budget resolution to include discretionary spending limit for five successive fiscal years.

Sets forth points of order against consideration of legislation in Congress (currently, only the Senate) that would exceed for any fiscal year discretionary spending limit established in the most recent concurrent budget resolution for that fiscal year (currently, the Balanced Budget and Deficit Control Act of 1985 [Gramm-Rudman-Hollings Act]).

Makes such point of order inapplicable if a declaration of war by Congress is in effect.

Sets forth points of orders for consideration of certain concurrent budget resolutions. Establishes discretionary spending limit for FY2009 as the number set forth in the FY2009 budget resolution.

Permits waivers or suspension of such requirements, or successful appeals from rulings of the Chair, only by an affirmative vote of three-fifths (60) of the Senate.

Establishes the Federal Agency Sunset Commission to review and report to Congress on the efficiency and public need for each federal agency, recommending abolishment or reorganization.

Provides for relocation of federal employees if their agency is abolished.

Requires the Comptroller General and the Director of Congressional Budget Office (CBO), in cooperation with the Director of the Congressional Research Service (CRS), to inventory federal programs to advise and assist Congress and the Commission in carrying out such requirements.

Establishes a Joint Select Committee on Earmark Reform.

Sets forth a point of order against consideration of legislation containing a congressional earmark or limited tax or tariff benefit.

Establishes the Securing America's Future Economy Commission to examine the long-term fiscal challenges facing the United States and develop legislation designed to address specified issues. Authorizes the President and the House and Senate Budget Committees to propose alternative legislation.

Requires the long-term CBO cost estimate of such proposals to be published in the Congressional Record.