Referred to the Committee on the Budget, and in addition to the Committees on House Administration, Oversight and Government Reform, and 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.
Budget or Bust Act - Repeals requirements that the President submits annual budgets, including supplemental budget estimates and changes to Congress.
Amends the Congressional Budget Act of 1974 to revise accordingly congressional procedures for considering budget resolutions.
Requires the Secretary of the Treasury to deposit all payments otherwise required to be made for Members of Congress' compensation in an escrow account to be released to the Members only upon the adoption of a budget resolution, if on or before April 1 of any year Congress does not adopt a budget resolution for the fiscal year that begins on October 1 of that year.
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