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 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 debt. The resolution also specifies budgetary levels for major functional categories like National Defense, Health, and Net Interest.
Expected Effects
This resolution, if enacted, would set the framework for congressional spending and revenue decisions for the next decade. It includes reconciliation instructions, potentially leading to legislative changes in various sectors to meet deficit reduction targets. The policy statements signal intentions for economic growth, mandatory spending reduction, and government deregulation.
Potential Benefits
- Potential for reduced deficits through spending cuts and increased revenues.
- Focus on economic growth policies that could stimulate job creation and business investment.
- Emphasis on government deregulation, potentially reducing burdens on businesses and individuals.
- Prioritization of national security through significant defense spending.
- Investment in infrastructure and public services.
Potential Disadvantages
- Potential cuts to mandatory spending programs could negatively impact vulnerable populations.
- Proposed revenue changes may disproportionately benefit certain groups.
- High deficit and debt levels despite proposed reductions.
- Potential for economic disruption due to rapid deregulation.
- Uncertainty regarding the actual impact of policy statements on economic growth and deficit reduction.
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 directly 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).