Zero Baseline Budget Act of 2007 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to eliminate sequential and cumulative adjustments for inflation from Congressional Budget Office (CBO) baseline projections for discretionary appropriations with respect to: (1) expiring housing contracts and social insurance administrative expenses; (2) offset pay absorption and pay annualization; (3) inflation; and (4) any accounting for changes required by law in the level of agency payments for personnel benefits other than pay.
Exempts from the requirement that budgetary resources (other than unobligated balances) be at the level available in the current year any resources designated as an emergency requirement or provided in supplemental appropriations laws.
Prohibits adjustments for inflation or any other factor.
Amends the Act to extend indefinitely the formula used to calculate the baseline.