H.R.6638: To require the submission by the President of recommendations and proposed legislation to modernize, consolidate, reprioritize, and where necessary, terminate Federal programs, agencies, and activities.

Federal Efficiency and Performance Act of 2008 - Requires the President to recommend to Congress, with proposed legislation, which existing federal programs and agencies should be modernized, consolidated, reprioritized, and where necessary, terminated in order to: (1) reduce federal expenditures; (2) increase efficiency and effectiveness of government operations; (3) eliminate overlap and duplication in federal programs and offices; (4) abolish agencies, programs, and activities that no longer serve an important governmental purpose; and (5) identify reductions in amounts of discretionary budget authority or direct spending that can be dedicated to federal deficit reduction.