It’s About Time Act

HR 5613, the "It’s About Time Act," changes the federal government's fiscal year from starting October 1 and ending September 30 to beginning January 1 and ending December 31, effective January 1, 2027. This directly affects all federal agencies, departments, and the budget process by aligning government fiscal cycles with the calendar year. Key provisions include amending budget code to reflect the new start/end dates, requiring a transition budget for October 2026-December 2026, and updating how authorizations of appropriations are interpreted for fiscal years after 2026. The bill makes no substantive policy changes but standardizes the fiscal year framework for federal budgeting.