Bill > HCRes14

This bill establishes the congressional budget for the United States Government for fiscal year 2025 and sets forth budgetary levels for fiscal years 2026 through 2034. * **Federal Revenues:** The bill projects federal revenues to be $3,699,743,000,000 in fiscal year 2025, with a planned reduction of $150,000,000,000. These projections extend through fiscal year 2034. * **New Budget Authority:** Total new budget authority is set at $4,663,769,000,000 for fiscal year 2025, with projected increases through fiscal year 2034. * **Budget Outlays:** Total budget outlays are projected at $4,636,008,000,000 for fiscal year 2025, with projected increases through fiscal year 2034. * **Deficits:** The bill projects deficits, starting at $936,265,000,000 in fiscal year 2025 and fluctuating through fiscal year 2034. * **Public Debt:** The bill outlines levels for total public debt, projected to reach $36,525,094,000,000 in fiscal year 2025 and increasing through fiscal year 2034. * **Major Functional Categories:** The bill allocates budget authority and outlays across various government functions, with significant amounts for: * National Defense: $933,484,000,000 in new budget authority for fiscal year 2025. * Health: $948,957,000,000 in new budget authority for fiscal year 2025. * Medicare: $952,239,000,000 in new budget authority for fiscal year 2025. * Income Security: $712,538,000,000 in new budget authority for fiscal year 2025. * Net Interest: $1,011,643,000,000 in new budget authority for fiscal year 2025. * **Reconciliation Instructions:** The bill includes instructions for House and Senate committees to propose legislation that would reduce or increase deficits by specific amounts over the fiscal years 2025-2034 period. For example, the House Committee on Ways and Means is instructed to propose changes that could increase the deficit by up to $4,500,000,000,000, while the Senate Committee on Finance is instructed to propose changes that could increase the deficit by up to $1,500,000,000,000. * **Reserve Funds:** The bill establishes reserve funds for reconciliation legislation, government deregulation, spending reduction, and protecting Medicare and Medicaid, with specific conditions for deficit neutrality or reduction. * **Policy Statements:** The House of Representatives outlines policy statements on economic growth, mandatory spending reduction, and government deregulation, emphasizing free market principles, deficit reduction, and reducing regulatory burdens.