Establishes in the Senate and the House of Representatives the Joint Select Committee on Reorganization and Reform of Foreign Assistance Agencies and Programs which shall investigate: (1) the organization of the various federal agencies and departments that oversee and implement U.S. foreign assistance programs; (2) U.S. foreign assistance program objectives, staffing and funding levels, and performance; and (3) legislative procedures and organization related to the authorization and appropriation of funding for and oversight of U.S. foreign assistance programs and agencies.