Government Waste Reduction Act of 2007

Bill: 110-hr-1121
Sponsor: Rep. Barrett, J. Gresham [R-SC-3]
Introduced: 2007-02-16 in the House
Policy area: Economics and Public Finance
Subjects: Accounting
Adoption
Agricultural subsidies
Agriculture and Food
Appropriations
Authorization
Budget deficits
Civil service retirement
Congress
Congressional reporting requirements
Congressional voting
Cost accounting
Education
Emergency Management
Expedited congressional procedure
Families
Federal budgets
Federal employees
Federally-guaranteed loans
Finance and Financial Sector
Foster home care
Government Operations and Politics
Government employees' health insurance
Government lending
Government spending reductions
Grants-in-aid
Health
Higher education
House rules and procedure
Indexing (Economic policy)
Labor and Employment
Legislation
Legislative resolutions
Off-budget expenditures
Senate rules and procedure
Student loan funds

Summary:
action_date: 2007-02-16
text: 
Government Waste Reduction Act of 2007 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to extend discretionary spending limits through FY2012. 
 
Repeals requirements for inclusion in a sequestration report of adjustments to discretionary limits for: (1) continuing disability reviews by the Social Security Administration; (2) specified allowances for the International Monetary Fund and international arrearages; (3) any earned income tax credit compliance initiative; (4) adoption incentive payments; and (5) conservation spending. 
Requires an adjustment to discretionary spending limits equal to the estimated resulting reduction in mandatory budget authority and outlays utilizing accrual methods, if enacted legislation charges federal agencies for the full cost of accrued federal retirement and health benefits, and an appropriations Act provides new budget authority to carry out such legislation. 
 
 
Revises PAYGO requirements to remove receipts from the requirement that any legislation enacted before FY2013 affecting direct spending (currently, direct spending or receipts) that increases the deficit will trigger an offsetting sequestration. Revises the formula for calculating the amount of deficit increase or decrease by the Office of Management and Budget (OMB). Requires OMB to assume an automatic deficit increase of $33.485 billion before making such calculations for FY2008. 
Repeals the cap on the amount by which Medicare programs must be reduced. 
States that, with respect to eliminating a deficit increase, accounts shall be assumed to be at the level in the baseline (as under current law) for FY2009, but for FY2010-FY2013 at the baseline only after adjusting for any sequester in FY2008.
 
Repeals the exemption of agricultural crop disaster assistance from the application of emergency legislation requirements (thus including agricultural crop disaster assistance as direct spending the President may designate as an emergency requirement).
 
Revises the definition of baseline to exclude emergency appropriations and legislation.
 
Prohibits such emergency appropriations and legislation from being extended in the baseline.
 
Amends the Congressional Budget Act of 1974 to require that the committee report and any statement of managers accompanying proposed legislation analyze whether a proposed emergency requirement meets a specified definition of "emergency." Prohibits the consideration of any such legislation that does not meet this "emergency" definition.


Legislative actions:
action_date: 2007-02-16
text: Referred to the Committee on the Budget, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2007-02-16
text: Referred to the Committee on the Budget, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2007-02-16
text: Referred to the Committee on the Budget, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2007-02-16
text: Introduced in House
action_date: 2007-02-16
text: Introduced in House