Shift to Biennial Budgeting: Two-Year Federal Spending and Planning.
This Act changes the federal government's annual budget and spending process to a two-year cycle (biennium). Congress will now approve funding and appropriations for two years at a time, rather than annually. The goal is to enhance the stability of federal programs and allow lawmakers more time for oversight and long-term policy planning, potentially ensuring greater continuity of public services.
Key points
The federal government will plan and approve spending for two years, aiming to reduce the frequency of budget impasses and ensure continuous operation of public agencies.
Federal agencies must adjust their strategic and performance goals to align with the two-year cycle, potentially leading to more stable and long-term public investments.
The new system takes effect starting January 1, 2025, applying to the budget cycle beginning Fiscal Year 2026.
Status:
Expired
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