US HB7295

Creates a single "annual budget Act" that combines all federal spending (appropriations) and revenue into one comprehensive bill, replacing the current fragmented process where appropriations and mandatory spending are handled separately

Requires all congressional committees with jurisdiction over spending or revenue to submit line-item budgets and any recommended policy changes to the Budget Committee by May 15 for inclusion in the annual budget Act

Establishes new deadlines: House Budget Committee must report the annual budget Act by June 10, House must complete action by June 30, and prohibits July adjournments longer than 3 days until the House approves the budget

Provides automatic fallback if Congress fails to adopt a budget resolution by April 15—the Budget Committee Chair must report baseline levels within 3 legislative days, which then apply as if included in an adopted resolution

Removes the off-budget status exemption for Social Security trust funds, bringing them into the comprehensive budget framework