Bill > HCRes10

This concurrent resolution establishes the congressional budget for the United States Government for fiscal year 2025 and sets budgetary levels for fiscal years 2026 through 2034. The resolution provides detailed financial projections across multiple budget categories, including recommended levels for federal revenues, new budget authority, and budget outlays. A key component of the resolution is the reconciliation instructions for various House committees, which outline specific deficit reduction and spending targets. The resolution highlights the current fiscal challenges facing the United States, noting that the gross federal debt has surpassed $36 trillion and is approximately 122.94% of the national gross domestic product. The document emphasizes the need to control federal spending, with a policy objective of returning to pre-COVID-19 pandemic spending levels while protecting critical programs like Social Security and Medicare. The resolution includes specific instructions for committees such as Armed Services, Homeland Security, Agriculture, and Ways and Means to submit recommendations that either increase or reduce the deficit within specified limits, and includes a provision to increase the statutory debt limit by $4 trillion.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-concurrent-resolution/10/all-info