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Establishing the congressional budget for the United States Government for fiscal year 2025 and setting forth the appropriate budgetary levels for fiscal years 2026 through 2034.
2/12/2025, 9:00 AM
Summary of Bill HCONRES 10
The bill outlines the proposed budget for various government agencies and programs, including funding for defense, education, healthcare, and infrastructure. It also includes projections for revenue and spending over the next decade, as well as estimates for economic growth and inflation.
The budgetary levels set forth in the bill are intended to guide Congress in making decisions about spending and revenue priorities for the coming years. This includes setting limits on discretionary spending, as well as outlining any proposed changes to mandatory spending programs such as Social Security and Medicare. Overall, Bill H.Con.Res. 10 is a crucial piece of legislation that will shape the fiscal policies of the United States Government for the next decade. It is important for lawmakers and the public to carefully consider the implications of this budget resolution and how it will impact the country's financial future.
Congressional Summary of HCONRES 10
Emergency Border Control Resolution
This concurrent resolution establishes the congressional budget for the federal government for FY2025, sets forth budgetary levels for FY2026-FY2034, and provides reconciliation instructions for legislation that increases or decreases the deficit and increases the statutory debt limit by specified amounts.
The resolution recommends levels and amounts for FY2025-FY2034 for
- federal revenues,
- new budget authority,
- budget outlays,
- deficits (on-budget),
- debt subject to limit,
- debt held by the public, and
- the major functional categories of spending.
The resolution includes reconciliation instructions that direct several House committees to submit legislation that will increase or decrease the deficit and increase the statutory debt limit by specified amounts. The committees must submit the legislation to the House Budget Committee by February 27, 2025.
(Under current law, reconciliation bills are considered by Congress using expedited legislative procedures that prevent a filibuster and restrict amendments in the Senate.)
Finally, the resolution specifies that it is the policy of this resolution that (1) federal spending levels should be restored to the levels that existed prior to the COVID-19 pandemic, adjusted to protect current Social Security and Medicare spending and reflect existing debt service obligations; and (2) it shall be the objective of the House to reach total budget outlays of $6.057 trillion or less this fiscal year.
