Summary
Budget Enforcement and Accountability Act of 2007 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to extend Pay-As-You-Go requirements through FY2012 and enforcement mechanisms through FY2016.
Requires the Directors of the Congressional Budget Office (CBO) and of the Office of Management and Budget (OMB) each to report to the House Committee on the Budget on how to broaden the Pay-As-You-Go sequestration base and make it more fair and equitable.
Makes it out of order in the House of Representatives or the Senate to consider any legislation or related motion that waives or suspends sequestration requirements of the Gramm-Rudman-Hollings Act or otherwise would alter the balances of the Pay-As-You-Go scorecard under it.
Makes it out of order in the House or Senate to consider direct spending or receipts legislation, or a related motion, that would affect its treatment under such Act.
Permits waiver or suspension of such requirements, or successful appeals from rulings of the Chair, only by an affirmative vote of three-fifths (60) of the Senate.
Makes it out of order in the House to consider a rule or order that waives the application of this Act.
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