H.Con.Res.14 - Concurrent resolution 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. (119th Congress)
Summary
H.Con.Res.14 is a concurrent resolution establishing the congressional budget for the US government for fiscal year 2025 and setting budgetary levels through 2034. It outlines recommended levels for federal revenues, new budget authority, outlays, deficits, and public debt. The resolution also specifies budgetary levels for major functional categories, such as National Defense, Health, and Net Interest.
Expected Effects
This resolution sets the framework for future appropriations and legislative actions related to the budget. It includes reconciliation instructions, directing various committees to propose changes in laws to meet specific budgetary goals. Reserve funds are established for reconciliation legislation, government deregulation, spending reduction, tax policy, and protecting Medicare and Medicaid.
Potential Benefits
- Provides a framework for federal spending and revenue for the next decade.
- Sets targets for deficit reduction and debt management.
- Allocates resources to various sectors, including national defense, health, and education.
- Includes provisions for potential adjustments based on economic conditions and policy changes.
- Encourages spending reforms and deregulation to promote economic growth.
Most Benefited Areas:
Potential Disadvantages
- The resolution projects continued deficits and increasing public debt.
- Achieving the deficit reduction targets may require significant cuts in government programs.
- The reconciliation instructions could lead to contentious debates over spending priorities.
- Economic assumptions underlying the budget projections may not materialize.
- The policy statements in the House could lead to partisan divisions on economic and social issues.
Constitutional Alignment
The resolution aligns with Article I, Section 8 of the Constitution, which grants Congress the power to lay and collect taxes, pay debts, and provide for the common defense and general welfare. The budget process itself is an exercise of Congress's legislative powers, as outlined in Article I, Section 7, which requires all bills raising revenue to originate in the House of Representatives. The resolution does not appear to infringe upon any specific constitutional rights or limitations.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).