This bill would shift the federal government's fiscal year from running October 1 through September 30 to running January 1 through December 31, aligning it with the calendar year. The change would take effect on January 1, 2026, with a transition period covering October 1, 2025 through December 31, 2025. The bill affects all federal agencies, Congress, and the entire federal budgeting process by adjusting numerous deadlines for budget submission, congressional action, and appropriations throughout the year. Key timeline changes include moving the presidential budget submission deadline from early February to mid-May and shifting various congressional budget deadlines forward by several months. The bill requires the Office of Management and Budget to issue regulations and provide proposed legislation to ensure agencies transition smoothly to the new fiscal year system.
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