Earmark Reform Act 2007 - Amends the Congressional Budget of 1974 to subdivide amounts allocated to the congressional appropriations committees into: (1) a specified total of new budget authority and outlays for earmarks in appropriations measures for the first fiscal year of the first concurrent budget resolution; and (2) an amount of total new budget authority and outlays for such earmarks for the first fiscal year of each ensuing budget resolution equal to 1% of total new budget authority and total outlays allocated to such committees. (Thus caps total earmarks at 1% of total new budget authority and total outlays allocated each fiscal year to such committees.)
Makes it out of order in the House of Representatives or the Senate to consider any bill, joint resolution, or amendment if its enactment would cause the applicable allocation of new budget authority or outlays for a fiscal year to be exceeded.