To reform the budget process.

[AI summary unavailable — showing source text] Amends the Congressional Budget Act of 1974 to establish a Joint Committee on the Budget to replace and assume the current functions and duties of the Budget Committees of the Senate and House of Representatives. Amends the Standing Rules of the Senate and the Rules of the House of Representatives to reflect the establishment of the new Joint Committee. Lists matters within the Committee's jurisdiction. Establishes a two-year budgeting cycle, but continues annual appropriations legislation. Devotes the first session of any Congress to action on a joint resolution on the biennial budget, subject to the following revised deadlines: (1) April 15 for the Joint Budget Committee to report its joint resolution; (2) May 15 for the Congress to complete action on the resolution; and (3) September 30 for the Congress to complete action on annual appropriations bills and on reconciliation legislation. Shifts the budget resolution from a concurrent to a joint resolution form (thereby requiring the President's signature). Revises the resolution to separate committee allocations of budget and credit authority and budget outlays into the following functional totals: (1) defense discretionary; (2) …