Establishes the Commission on Congressional Budgetary Accountability and Review of Federal Agencies. Directs the President to designate two Commission co-chairpersons.
Requires the Commission to: (1) establish a systematic method for assessing the effectiveness and accountability of agency programs; (2) divide such programs into four equal budgetary parts; (3) evaluate executive agencies and their programs identified in each unit identified in the assessment; and (4) submit to Congress each of the next four years a plan recommending agencies and programs that should be realigned or eliminated and proposing implementing legislation. Provides for expedited consideration of such legislation.
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