House Budget to mark up reform bill that would expand president's budget powers

The House Budget Committee is scheduled to mark up a bipartisan bill next Thursday that would expand presidential power in the budget process.

The bill from the top two lawmakers on the Budget panel — Reps. Paul Ryan (R-Wis.), the chairman, and Chris Van Hollen (D-Md.), the ranking member — would give the president powers approaching a line-item veto.

Under the proposal, the president could suggest canceling funding streams for certain programs or budget areas, proposals which would then receive up-or-down votes in Congress.

The measure is part of a broader effort, led by Ryan, to revamp the congressional budgeting system. On Thursday, the Wisconsin Republican announced that 10 different members of his committee were introducing bills to change certain aspects of the process.