S.conres7 - Setting forth 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
S.Con.Res.7 is a concurrent resolution setting forth the congressional budget for the United States Government for fiscal year 2025 and establishing budgetary levels for fiscal years 2026 through 2034. The resolution outlines recommended levels for federal revenues, new budget authority, budget outlays, deficits, and public debt. It also specifies budgetary allocations for major functional categories, such as National Defense, International Affairs, and Health, across these fiscal years.
Expected Effects
If enacted, this resolution would set the framework for federal spending and revenue policies for the next decade. It would guide appropriations committees in allocating funds and provide a benchmark for evaluating the fiscal impact of proposed legislation. The reconciliation instructions would compel various committees to propose changes in laws to meet specific deficit reduction targets.
Potential Benefits
- Provides a framework for fiscal planning and resource allocation for the federal government.
- Sets targets for deficit reduction, potentially leading to greater fiscal stability.
- Allocates resources to critical sectors such as national defense, healthcare, and infrastructure.
- Includes reserve funds for reconciliation and deficit-neutral legislation, allowing for flexibility in addressing unforeseen circumstances.
- Establishes budgetary levels for major functional categories, promoting transparency and accountability.
Most Benefited Areas:
Potential Disadvantages
- The resolution projects significant deficits over the next decade, potentially increasing the national debt.
- Reconciliation instructions may lead to cuts in programs or services that benefit vulnerable populations.
- The allocation of resources may not align with the priorities of all stakeholders.
- Economic forecasts and assumptions underlying the budget may prove inaccurate, leading to budgetary shortfalls or surpluses.
- The resolution may be subject to political gridlock and compromise, potentially undermining its effectiveness.
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 budgetary process. The document itself does not violate 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).