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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jan 5, 2017.
Review Every Dollar Act of 2017
This bill prohibits Congress from considering legislation authorizing or reauthorizing a federal program for more than seven years. Congressional committees must review direct spending programs by applying specified criteria to determine whether programs should be modified, terminated, or reauthorized.
The bill amends the Congressional Budget Act of 1974 to create deficit reduction accounts for savings from legislation intended for deficit reduction. The chairmen of the House and Senate Budget Committees are required to adjust spending allocations to reflect balances in the accounts. This creates procedural obstacles for considering legislation that spends savings intended for deficit reduction.
The bill requires transfers of funds from the general fund of the Treasury to the Highway Trust Fund to be counted as new budget authority and outlays.
The bill prohibits certain rules requiring at least $100 million in new budget authority from taking effect unless: (1) the President notifies Congress that the rule is necessary for an emergency, the enforcement of criminal laws, national security, or the implementation of an international trade agreement; or (2) budget authority to carry out the rule is provided by law.