Commission on the Accountability and Review of Federal Agencies Act - Establishes the Commission on the Accountability and Review of Federal Agencies to: (1) evaluate executive agencies and their programs; and (2) submit to Congress a plan recommending agencies and programs that should be realigned or eliminated and proposing implementing legislation.
Requires the Commission to recommend: (1) realignment where a function performed by two or more agencies or programs can be consolidated; (2) realignment or elimination of any agency or program that has wasted federal funds; and (3) elimination of any agency or program that has completed its purpose, become irrelevant, or failed to meet objectives.