Bill > SCRes7

This bill sets forth the congressional budget for the United States Government for fiscal year 2025 and establishes budgetary levels for fiscal years 2026 through 2034. * **Federal Revenues:** The bill projects federal revenues to be $3,853,053,000,000 in fiscal year 2025, increasing annually to $5,375,311,000,000 by fiscal year 2034. * **New Budget Authority:** Total new budget authority is set at $4,660,822,000,000 for fiscal year 2025, projected to rise to $6,681,550,000,000 by fiscal year 2034. * **Budget Outlays:** Total budget outlays are estimated at $4,636,002,000,000 for fiscal year 2025, increasing to $6,592,030,000,000 by fiscal year 2034. * **Deficits:** The bill projects deficits ranging from $782,949,000,000 in fiscal year 2025 to $1,282,203,000,000 in fiscal year 2033. * **Public Debt:** The total public debt is projected to increase from $36,371,784,000,000 in fiscal year 2025 to $48,714,403,000,000 by fiscal year 2034. * **Major Functional Categories:** The bill outlines budget authority and outlays for various government functions, including National Defense, International Affairs, General Science, Space, and Technology, Energy, Natural Resources and Environment, Agriculture, Commerce and Housing Credit, Transportation, Community and Regional Development, Education, Training, Employment, and Social Services, Health, Medicare, Income Security, Social Security, Veterans Benefits and Services, Administration of Justice, General Government, and Net Interest. For example, Health is projected to have new budget authority of $945,070,000,000 in FY 2025, and Medicare is projected to have $950,891,000,000 in new budget authority in FY 2025. * **Reconciliation Instructions:** The bill includes reconciliation instructions for House and Senate committees, directing them to propose legislation that would reduce or increase the deficit by specific amounts over the fiscal years 2025-2034. For instance, the House Committee on Armed Services is instructed to report changes that increase the deficit by no more than $150,000,000,000, while the Senate Committee on Finance is directed to report changes that reduce the deficit by at least $1,000,000,000. * **Reserve Funds:** The bill establishes reserve funds for deficit-neutral legislation, including specific provisions for protecting Medicare and Medicaid, and for government deregulation. * **Administrative Expenses:** The bill addresses the budgetary treatment of administrative expenses for the Social Security Administration and the U.S. Postal Service, ensuring they are included in committee allocations.