H.Con.Res.14 - 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 U.S. 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 like National Defense, Health, and Net Interest.
Expected Effects
The resolution sets the framework for appropriations and legislative action related to spending and revenue. It includes reconciliation instructions for various committees to achieve deficit reduction targets. Reserve funds are established for specific policy areas, such as government deregulation and Medicare protection.
Potential Benefits
- Provides a framework for federal spending and revenue, promoting fiscal planning.
- Aims to reduce the deficit through reconciliation instructions to various committees.
- Includes reserve funds for government deregulation, potentially leading to economic efficiencies.
- Addresses long-term budgetary levels for Social Security and Medicare.
- Encourages economic growth through free market policies.
Most Benefited Areas:
Potential Disadvantages
- Relies on committees meeting deficit reduction targets, which may not be achieved.
- Includes potential for increased deficits in certain areas, such as defense and homeland security.
- May lead to cuts in specific programs to meet overall spending reduction goals.
- The policy statements in Title V are non-binding and may not translate into actual policy changes.
- The large deficit projections could lead to economic instability.
Most Disadvantaged Areas:
Constitutional Alignment
The resolution aligns with Article I, Section 8 of the Constitution, which grants Congress the power to lay and collect taxes, duties, imposts, and excises, to pay the debts and provide for the common defense and general welfare of the United States. It also aligns with the principle of separation of powers, as it involves both the House and Senate in the budget process. The document does not appear to contravene any specific constitutional provision.
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).