Topic: Macroeconomics — National Budget
Subject: Economics and public finance
Date: 2009-10-29 00:00:00

Spending, Deficit, and Debt Control Act of 2009 - Enhanced Spending Control and Budget Enforcement Act of 2009 - Amends the Congressional Budget Act of 1974 (CBA) to require joint (currently, concurrent) budget resolutions signed by the President. Repeals the requirement for submission to the House of Representatives of an allocation and sub-allocations, consistent with the discretionary spending levels in the most recently agreed to budget resolution, in the event that no new budget resolution becomes law before April 15 of any year. Prescribes procedures for expedited consideration in each chamber of a presidential veto of a budget resolution. Revises requirements for adjustments for emergencies. Provides for a reserve fund for emergencies. Prescribes requirements for biennial budget resolutions, appropriations Acts, and government strategic and performance plans instead of annual ones if the President and Congress so agree. Spending Enforcement and Reform Act of 2009 - Amends the Balanced Budget and Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to establish discretionary spending limits for FY2011-FY2019. Prescribes certain deficit control enforcement mechanisms for such period. Budget Reform and Long-Term Sustainability Act of 2009 - Amends the CBA to require the Director of the Congressional Budget Office (CBO) to: (1) make an annual 75-year projection of total spending, revenue, deficits, and debt as a percentage of gross domestic product (GDP), based on current law levels as modified to maintain current policy; (2) issue a Spending Review Report analyzing the solvency of the Old-Age, Survivors, and Disability Insurance (OASDI) Trust Fund and the long-range sustainability of the spending levels of Medicare, Medicaid, and other direct spending. Prescribes procedures for introduction and expedited consideration in each chamber of spending review legislation if such report indicates OASDI Trust Fund insolvency or the non-sustainability of Medicare, Medicaid, and other direct spending. Requires the Government Accountability Office (GAO) and the Office of Management and Budget (OMB) each to report on the federal government's financial condition, including the long-term unfunded obligations. . Requires inclusion in a joint budget resolution of specified long-term reconciliation directives in addition to, as under current law, a reconciliation measure. Requires CBO to estimate whether each measure reported from committee (except those under the Committee on Appropriations) causes a net increase in direct spending in excess of $5 billion in any of the four 10-year periods beginning in FY2019-FY2058. Makes it out of order in both chambers, subject to certain waivers or suspensions, to consider any measure that causes such a net increase in deficits Federal Program Sunset Act of 2009 - 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. Legislative Line-Item Veto Act of 2009 - Amends the Congressional Budget and Impoundment Control Act of 1974 to authorize the President to propose to Congress the cancellation (line item veto) of any dollar amount of discretionary budget authority, item of direct spending, or targeted tax benefit. Prescribes procedures for expedited consideration in each chamber of legislation to approve such proposal. Authorizes the President to: (1) withhold discretionary budget authority temporarily from obligation; or (2) suspend temporarily direct spending, a limited tariff, or targeted tax benefit. Declares that all such spending reductions related to this title shall be for deficit reduction. Amends Rule XIII (Calendars and Committee Reports), Rule X (Organization of Committees), and Rule XXI (Restrictions on Certain Bills) of the Rules of the House to prescribe procedures for consideration of rescission measures. Commission on the Accountability and Review of Federal Agencies Act of 2009 - Establishes the Commission on the Accountability and Review of Federal Agencies to: (1) evaluate executive agencies and their programs, using specified criteria; and (2) submit to Congress a plan recommending agencies and programs that should be realigned or eliminated, and proposing implementing legislation. Prescribes procedures for congressional consideration of reform proposals. Transparency in Budgeting Act of 2009 - Provides for accrual funding of: (1) the Civil Service Retirement and Disability Fund; (2) the Central Intelligence Agency Retirement and Disability System; and (3) the Foreign Service Retirement and Disability System. Establishes in the Treasury: (1) the Public Health Service Commissioned Corps Retirement Fund; (2) the National Oceanic and Atmospheric Administration Commissioned Officer Corps Retirement Fund; and (3) the Coast Guard Military Retirement Fund. Provides for accrual funding of post-retirement health benefits costs for federal employees. Changes the name of the Department of Defense (DOD) Medicare-Eligible Retiree Health Care Fund to Uniformed Services Health Care Fund (thus, providing health care programs for all uniformed service retirees, under certain conditions). Establishes a Joint Select Committee on Earmark Reform. Declares a moratorium on consideration of earmarks until the Joint Select Committee files its report. Revises requirements for limiting the public debt. Repeals Rule XXVIII (the Gephardt Rule, relating to mandatory adjustment of the statutory limit on the public debt to conform to a budget resolution). Amends the Federal Credit Reform Act of 1990 to require adjustment for market risks in the estimation of net present values for calculation of the estimated long-term cost to the federal government of a direct loan or loan guarantee or modification. Budget Enforcement and Congressional Control Act of 2009 - Amends the CBA to prohibit consideration of extraneous appropriations in omnibus appropriations measures, or of more than a 20% increase in new direct spending in reconciliation legislation. Amends Rule XIII (Calendars and Committee Reports) to make it out of order to consider any waiver of spending and deficit limits under this Act or the CBA. Directs the chairs of the congressional budget committees to each maintain a deficit reduction Discretionary Account and a deficit reduction Mandatory Account. Revises Rule X to suspend certain requirements limiting terms of service on the House Budget Committee. Establishes a House select committee to review the effectiveness of such requirements. Provides for expedited judicial consideration and review of a complaint by a Member of Congress or individual who is adversely affected by this Act.